Ripple Projects $900 Million Revenue Run Rate as Banking and Stablecoin Services Expand

TLDR

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Ripple anticipates reaching a $900 million annualized product revenue run rate by December 2026.
The number of customers and partners utilizing multiple Ripple products has grown threefold this year.
The company’s payments network is on track to hit $150 billion in total transaction volume.
RLUSD stablecoin market capitalization has climbed to $2.6 billion.
Aviva Investors introduced a tokenized sterling liquidity fund share class utilizing the XRP Ledger.
The Office of the Comptroller of the Currency granted Ripple final approval to operate a federally supervised national trust bank.

Ripple announced Wednesday that it anticipates closing 2026 with a $900 million annualized product revenue run rate. The projection encompasses revenues from payments, custody solutions, stablecoins, prime brokerage services, and treasury operations.

Payment Network and RLUSD Expansion Metrics

According to the company, its customer and partner base utilizing multiple Ripple services has grown by three times over the past year. The payments network is projected to reach approximately $150 billion in cumulative transaction volume by year’s end.

Ripple’s dollar-pegged stablecoin, RLUSD, has achieved a market capitalization of $2.6 billion, according to company statements. The revenue figure represents an annualized projection rather than realized bookings. CEO Brad Garlinghouse stated, “Settlement is moving to real-time, 24/7.”

XRP Ledger Welcomes Tokenized Investment Vehicles

On Monday, Aviva Investors introduced a tokenized share class for its £22 billion sterling liquidity fund. The investment firm committed £50 million, approximately $66.7 million, to the XRP Ledger-based share class.

This launch builds upon Aviva’s previous tokenized dollar liquidity fund offering. Tokenized fund shares leverage blockchain infrastructure to digitally represent ownership stakes in traditional investment vehicles.

Hedge fund Brevan Howard simultaneously broadened its collaboration with Ripple. The firm’s funds now have access to prime brokerage, clearing, and financing capabilities through Ripple’s institutional trading division.

Federal Banking Charter and BNY Collaboration Advance

Tuesday saw BNY extend its Ripple collaboration to offer institutional custody services for both XRP and RLUSD. The two organizations will jointly investigate tokenized trade finance applications on the XRP Ledger.

BNY currently serves as a reserve holder for RLUSD. Qualified clients can now custody and transfer both digital assets via BNY’s platform. The companies have yet to disclose a launch timeline for the proposed trade finance initiatives.

On Monday, the Office of the Comptroller of the Currency issued final authorization for Ripple to establish a national trust bank. The institution will facilitate stablecoin reserve management and institutional custody operations under federal regulatory oversight.

Prime Services Portfolio Expands While XRP Faces Headwinds

Ripple Prime recently incorporated swaps linked to over 100 markets. The offerings span equities, commodities, foreign exchange, and index products. These instruments enable continuous trading and settlement, with institutions able to post RLUSD as collateral.

A separate agreement with Robinhood integrates RLUSD into Robinhood Chain and Bitstamp. Robinhood intends to incorporate the stablecoin into its primary application this year while leveraging Ripple’s treasury and financing infrastructure.

XRP has declined approximately 30% year-to-date following an August rally. The token maintains a market capitalization around $83 billion. As of October 26, spot XRP exchange-traded products held roughly $1.5 billion in assets under management, with trading activity trailing Bitcoin, Ether, and Solana fund volumes.