Paxos Adds XRP to Crypto Brokerage for Institutional Partners

Paxos has added XRP to its Crypto Brokerage platform, letting financial institutions that use its infrastructure offer the token to their own customers, according to Crypto.news. The addition took effect on Oct. 7, 2026 and covers buying, selling, holding, depositing and withdrawing.

Crypto.news reported that Paxos cited XRP’s circulation since 2012 and a wallet count above 8.1 million. In a post on X, the company said the token carries a market cap of nearly $95 billion. Cryptobriefing reported that Paxos started 2026 supporting 12 assets on its brokerage platform and that the roster has since grown to somewhere between 25 and 29 assets, framed by the company as selective rather than sprawling.

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What the brokerage actually provides

Paxos describes the product as infrastructure that lets businesses embed crypto wallets and trading inside their existing applications, with buying, selling, holding and transfers to and from external addresses. For partners, the company says it supplies custody, licensing and trade execution, along with cash-to-crypto conversion, payment settlement and the ability for supported assets to move within a partner’s customer network.

Under that model, the partner runs the customer-facing platform while Paxos provides the underlying services. The XRP announcement adds a token to that infrastructure rather than launching a separate consumer application. Paxos says in its listing policy that assets undergo an evaluation and approval process before receiving support, and its brokerage page describes the business as an infrastructure provider that does not compete for partners’ end users.

Also readXRP Rich List Data Shows Top 50 Wallets Control Over 43% of Circulating Supply

Cryptobriefing noted that the regulatory status is the central selling point: Paxos operates as a national trust bank under the oversight of the Office of the Comptroller of the Currency, so partners plugging into the platform inherit compliance work already completed. The foundation’s client list identifies existing business relationships and should not be read as a separate XRP listing announcement from each named platform.

Schwab shows how a Paxos relationship works in the US

For American brokerage customers, Charles Schwab’s recent expansion is a concrete example. As Crypto.news reported on Aug. 27, Schwab announced plans to add Solana, Avalanche and Chainlink to its crypto service, which would take its selection to five tokens after its Bitcoin and Ethereum launch. XRP was outside the lineup named in that August announcement.

Under Schwab’s custody arrangement, Charles Schwab Premier Bank holds customer assets while Paxos provides trade execution and sub-custody, with customers using a separate Schwab Crypto account connected to their existing brokerage relationship. The August coverage put Schwab’s crypto transaction fee at 0.75% and noted that external deposits and withdrawals were unavailable at launch; during its July earnings update, Schwab said it had begun testing transfers. At the end of the second quarter, Schwab reported $13.1 trillion in client assets and 39.8 million active brokerage accounts — figures covering the firm’s business, not XRP holdings or customers eligible to trade XRP.

Ripple’s own custody and prime brokerage moves

Ripple has been expanding in parallel. Its Oct. 5 release notes confirmed that Ripple Custody version 1.43 supports Canton, a public blockchain used by regulated institutions for tokenization, settlement and repurchase agreements, letting customers hold and transfer Canton Coin and CIP-56 tokens under the platform’s existing approval controls and audit records. The connection requires a Canton validator operated by the customer or its node provider, with signing keys held in the customer’s vault and accounts able to receive assets through pre-approved transfers.

On Oct. 6, Ripple announced an expanded agreement to serve Brevan Howard through Ripple Prime, covering multi-asset prime brokerage, clearing and financing across traditional and digital markets. Brevan Howard Group Chief Operating Officer Alan McGroarty said the firm expects the arrangement to provide “increased operational ease and capital efficiency” for its investment teams. Ripple said funds managed by Brevan Howard affiliates also participated in its $500 million strategic investment in 2025, and that Ripple Prime launched total return swaps linked to U.S.-listed equities, indexes and digital assets in August, after completing a $275 million private placement of senior unsecured notes on Aug. 18.

Why it matters

The direct effect lands on Paxos’s institutional partners, which can now offer XRP exposure without building separate infrastructure or finding a second provider for one token. For a bank, broker or fintech, the hard part of offering crypto is rarely the token — it is finding an infrastructure partner whose compliance posture regulators accept, which is the gap Paxos is selling into. Cryptobriefing reported that the addition signals growing acceptance of prominent digital assets within traditional financial services and could potentially improve liquidity and price stability, with possible retail spillover if investors who prefer regulated environments reach XRP indirectly through partner institutions.

What to watch

Whether any of the named Paxos clients — including Schwab, whose crypto lineup currently excludes XRP — announces its own XRP listing, and how XRP’s price behaves once the market sell-off that pushed it to $1.43 on announcement day subsides. Ripple’s cloud deployment of Canton support is also set to proceed gradually from the Oct. 5 release date.

This article is not financial advice. Crypto markets are volatile and uncertain, and reported prices can change rapidly.

Sources: crypto.news, Cryptobriefing