XRP
Ripple Announces Institutional Deals with Meritz, Canton Network, and Paxos
Ripple has entered three institutional partnerships spanning custody and brokerage services, with Paxos being the only arrangement directly integrating the XRP token.
Ripple entered three institutional agreements involving South Korean brokerage Meritz Securities, the Canton Network, and digital asset firm Paxos. Around the time of the announcements on October 8, XRP traded at $1.36, down approximately 4 percent on the day, 9 percent over the week, and roughly 63 percent from its July 2025 peak of $3.65.
The arrangements with Meritz and Canton Network focus on Ripple Custody rather than the XRP token itself. Meritz is evaluating tokenization and digital asset custody, following earlier Ripple pilot initiatives in South Korea with Kyobo Life and local banks. Canton Network integrated Ripple Custody to support its native Canton Coin alongside other network assets, following a similar integration by Fireblocks earlier in the year.
Paxos represents the single agreement among the three that directly involves XRP as an asset. By adding XRP to its custody and institutional brokerage infrastructure, Paxos enables its partner banks and fintech platforms to provide XRP trading and holding services to their clients without deploying proprietary custody systems.
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