Ripple Prime earns BBB rating from Kroll, reflecting robust capital support and early profitability

Ripple Prime, the institutional brokerage arm that grew out of Ripple Labs’ acquisition of Hidden Road, has received BBB issuer ratings from the Kroll Bond Rating Agency (KBRA) for both its holding company and primary operating subsidiary, the firm said Thursday.

KBRA provides independent credit ratings across multiple sectors, using a combination of quantitative and qualitative analyses, sector-specific methodologies, and a committee-driven process to ensure consistency and forward-looking assessments. It is widely recognized for its expertise in structured finance and the specialized sectors.

The BBB rating represents a solid, investment-grade standing, showing that the firm has adequate financial strength, operational discipline, and risk management, but may face pressure under severe economic or market stress. It confirms credibility for institutional and investor confidence while highlighting areas for potential improvement.

KBRA highlighted Ripple Prime’s scaling business model, centered on clearing, intermediation, and repo activities focused on short-duration U.S. government securities.

The firm’s balance sheet expanded considerably in 2025, achieving profitability with $500 million in capital from Ripple. Ratings reflect expected parental support, robust capital levels, and disciplined risk management, while management plans to diversify products and talent.

Earnings are still developing but are projected to improve in 2026 as new revenue streams and balance sheet growth are realized.