The Kroll Bond Rating Agency (KBRA) has given a BBB rating to Ripple Prime, Ripple’s prime brokerage arm. The designation may increase Ripple’s influence as a bridge between conventional and traditional finance.
KBRA has made Ripple Prime more visible to traditional investors after assigning a BBB investment grade rating to Ripple Prime, previously The hidden path.
This just in: Global credit rating agency Kroll appointed @ripple Earn an investment grade (BBB) issuer rating, reflecting the financial strength, business expansion and disciplined execution of our growing prime brokerage platform.
Built at the intersection of traditional roads…
– Ripple (@Ripple) April 2, 2026
The affiliate is a registered broker-dealer, with CFTC registration, member FINRA and SIPC, as well as a clearing member of the CME Group and a member of the FICC Government Securities Division.
Obtaining an investment grade rating means that counterparties can now trade with Ripple Prime within the normal credit framework, without the need for exceptions.
A BBB rating indicates good credit quality and moderate to low risk of loss. This rating is lower than the highest quality levels of AA or AAA, indicating that the issuer can meet its financial obligations, but may be vulnerable to adverse economic conditions.
KBRA gives Ripple recognition for its business model
KBRA based its rating on Ripple’s Prime US business, which is now in the expansion phase. Ripple Prime has been developing its ETF derivatives platform since 2024, and achieved a more significant expansion last year.
Ripple Prime grew its balance sheet in 2025, achieving profitability for the fiscal year. Ripple helped accelerate the process with a $500 million capital injection, boosting Hidden Road’s initial assets.
KBRA notes that Ripple Prime has more specialized and focused activities compared to other brokerages, but has shown a willingness to diversify through additional business lines and grow its team with experts.
The rating reflects Ripple’s readiness to secure further support. KBRA warns that if Ripple Prime issues debt, Ripple could offset some of the restrictions with financial support. The rating was based on Ripple’s strong financial position and its willingness to invest in its prime brokerage firm. Ripple itself announced $5 billion in cash at the end of 2025.
KBRA expects Ripple Prime to grow in 2026
Ripple Prime may compensate for the cryptocurrency market’s sluggish performance and shrinking liquidity XRPL. The company is still in a growth phase, but KBRA expects margins to improve in 2026.
Ripple Prime mostly profits from spread-based financing activities, which are sensitive to the size of the balance sheet and interest rate changes. KBRa predicts other lines of business and trading types, which increases brokerage fees.
Currently, the BBB rating reflects adequate capital buffers for the risk profile, with moderate leverage. Starting in 2026, Ripple Prime offers spot, over-the-counter trading of XRP and XLUSD, as well as cryptocurrency derivatives, forex, fixed income products, precious metals and oil.
Following the news, XRP traded at $1.31, a slight rebound alongside other assets. XRP also moved up the market cap ranks, reclaiming the top four spots. The asset maintains relatively high mindshare and signals Ripple’s ambitions to tap into the cryptocurrency markets and traditional trading.
