The declare, made by some neighborhood members near the Ripple ecosystem, that “DTCC’s trillions of {dollars} price of transactions will probably be performed through $XRP Ledger (XRPL)” has been confirmed false.
The difficulty arose as a result of Hidden Highway, which has change into a subsidiary of Ripple, was listed within the listing of a DTCC affiliate.
Hidden Highway Companions CIV, rebranded as Ripple Prime, has been listed within the Market Participant Identifier (MPID) listing printed by the Nationwide Securities Clearing Company (NSCC), a subsidiary of DTCC. The itemizing exhibits March 2nd as the corporate’s “first buying and selling date.” This growth has been misinterpreted by some $XRP neighborhood members as a sign that DTCC’s large buying and selling quantity will probably be transferred to the XRPL community. Nevertheless, the truth is sort of totally different.
DTCC is among the world’s largest monetary infrastructures, holding roughly $100 trillion in custody property and processing round $4 quadrillion price of transactions yearly. These figures have led some Ripple supporters to consider that XRPL may gain advantage from this transaction quantity. Even David Schwartz, one of many co-founders of XRPL, initially commented positively on the event.
Nevertheless, the inclusion of Ripple Prime within the NSCC listing solely signifies that the corporate is allowed as a dealer to conduct OTC transactions. The announcement states that the executing dealer for Hidden Highway is assigned the MPID code “HRFI,” whereas clearing and settlement operations will probably be dealt with by Pershing LLC.
Pershing, a subsidiary of BNY Mellon, supplies custody, clearing, and settlement companies for lots of of smaller brokerage corporations. In its operation, Ripple Prime solely processes the transaction; the settlement processes are dealt with by NSCC through Pershing. XRPL performs no position on this course of.
In line with the listing itemizing, the authorization granted applies solely to OTC merchandise eligible below the NSCC. There isn’t any approval for different classes similar to commonplace company bonds, municipal bonds, or mutual funds.
Moreover, the addition of Ripple Prime is seen as a typical process. In the identical announcement, NSCC made related listing updates for Parallel Distributors, US Bancorp Fund Companies, and a number of other different establishments. Dozens of economic establishments undergo the identical onboarding course of each month.
In April 2025, Ripple introduced the acquisition of Hidden Highway for $1.25 billion. The announcement said that Hidden Highway would transfer its post-trade operations to the XRPL community sooner or later. Nevertheless, the phrase “transfer” referred to a future purpose, not an current operation. The acquisition was accomplished in October 2025, and the corporate was rebranded as Ripple Prime. Regardless of this, as of right this moment, there isn’t any authorization for DTCC transactions to happen on XRPL.
The corporate’s web site nonetheless describes Ripple Prime as a “world credit score community for establishments” and states that it gives prime brokerage, clearing, and financing companies. XRPL is just talked about within the acquisition announcement on the web site.
Nevertheless, based on specialists, an organization being added to the listing doesn’t essentially imply an integration is happening on the blockchain.
*This isn’t funding recommendation.
