Ripple Expands Institutional Collateral Use and Joins UK Tokenization Push
XRP is seeing increased use as collateral in institutional credit lines and repo markets, while Ripple joins a UK initiative focused on tokenization frameworks.
Institutional adoption of XRP expanded across multiple financial products this week. The deployment of the XLS-65/66 lending protocol on the XRP Ledger has facilitated the asset's use as collateral for institutional credit lines. Ripple Prime accepts XRP alongside Bitcoin, RLUSD, fiat currencies, gold, and treasuries, while a September 8 filing from Charles Schwab disclosed that XRP ETFs are being utilized as collateral in repo transactions.
In the United Kingdom, the City of London reportedly included Ripple among 54 partner firms collaborating with the Wholesale Digital Markets Champion on a 12-month tokenization program. The initiative aims to scale adoption and establish regulatory, legal, and tax structures. Ripple previously completed a proof-of-concept with the Bank of England in 2017 and obtained an EMI license along with Financial Conduct Authority approval in 2026.
Corporate and ecosystem developments also advanced, with Ripple hiring former Google and PayPal executive Brian Beck to lead developer relations at RippleX. Meanwhile, Evernorth is slated to hold at least 473 million XRP upon listing on Nasdaq. Additionally, Binance registered its largest single-day combined XRP volume in six months on September 11, with inflows reaching $91.2 million and outflows totaling $113.9 million.
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