Ratings agency KBRA has assigned an investment-grade BBB issuer rating to Ripple Prime, the prime brokerage arm of Ripple. The rating highlights the unit’s rapid growth since being acquired and is bolstered by Ripple’s substantial financial backing, including nearly $5 billion in cash and over 40 billion XRP holdings.
The ratings agency KBRA assigned a BBB issuer rating to Ripple Prime, the prime brokerage arm formerly known as Hidden Road. This major credibility win for the entity behind XRP and RLUSD follows recent praise from Ripple’s CEO, Brad Garlinghouse.
KBRA announced the investment-grade rating for both the holding company and its core operating subsidiary. The agency highlighted Ripple Prime’s rapid growth in clearing and intermediation services across exchange-traded derivatives and fixed income repo markets.
Ripple Prime has already achieved profitability in 2025, supported by roughly $500 million in capital injections from its parent company. Garlinghouse recently stated that the unit had tripled its revenue rates in 12 months.
KBRA noted that a key factor behind the strong rating is Ripple’s solid financial backing. This comprises nearly $5 billion in cash reserves alongside holdings of over 40 billion XRP.
The agency said Ripple is highly likely to provide financial assistance if needed, given the strategic importance of its brokerage arm. This expectation of parental support played a central role in aligning the ratings.
Nevertheless, the report mentioned that Ripple’s revenues remain heavily tied to digital asset activity, including XRP sales. Consequently, earnings could be sensitive to crypto market volatility during prolonged downturns.
Ripple is planning to diversify its revenue streams with new initiatives like Delta1 products and expansion into equity prime brokerage services. The firm also recently announced a new product line for corporations to manage fiat and cryptocurrencies in a unified system.
