Ripple Targets $900M Revenue Run Rate as XRP Slips
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Ripple expects to finish 2026 with a $900 million annualized product revenue run rate and projects that its payments network could approach $150 billion in lifetime transaction volume by December, the company said on Wednesday, Blockonomi reported. The forecast spans payments, custody, stablecoins, prime brokerage and treasury services. The figure describes an annualized pace rather than revenue already booked.
Separately, Aviva Investors launched a tokenized share class of its £22 billion sterling liquidity fund on the XRP Ledger on Monday, investing £50 million (about $66.7 million), per Blockonomi. U.Today reported the same £50 million figure as about $66 million and noted that, alongside Aviva’s July dollar liquidity fund, the manager’s digital assets in Europe barely exceeded £86 million, or $116 million.
Key facts
- Ripple’s $900 million annualized product revenue target covers payments, custody, stablecoins, prime brokerage and treasury services, with the company citing a tripling in customers and partners using multiple products.
- The RLUSD stablecoin has reached a $2.6 billion market capitalization, according to Ripple.
- BNY expanded its Ripple partnership on Tuesday to offer institutional custody for XRP and RLUSD, with both firms to explore tokenized trade finance on the XRP Ledger; no start date was announced.
- Ripple received final OCC approval on Monday to establish a national trust bank supporting stablecoin reserves and institutional custody.
- Hedge fund Brevan Howard widened its Ripple agreement, gaining access to prime brokerage, clearing and financing through Ripple’s institutional trading business.
How the tokenized fund is structured
U.Today described the Aviva arrangement as a “digital twin” of an existing fund first launched in 2002, with its structure, compliance and daily liquidity left in place while XRP Ledger records act as ownership records. The physical assets remain with BNY Mellon, wallet security sits with Komainu, and Licuido handles the tokenization pipeline, according to U.Today. Access is limited to professional investors after KYC checks. The £50 million tranche is about 0.4% of the £22 billion fund, U.Today reported. Aviva CEO Mark Versey said tokenization could optimize internal processes and lead to improved client outcomes, U.Today reported.
Trading services widen while XRP lags
Ripple Prime recently added swaps tied to more than 100 markets across equities, commodities, foreign exchange and indexes, allowing round-the-clock trading and settlement with RLUSD usable as collateral. A separate deal with Robinhood brings RLUSD to Robinhood Chain and Bitstamp, with Robinhood planning to add the stablecoin to its main app this year and use Ripple’s treasury and financing services.
CEO Brad Garlinghouse said settlement is moving to real-time, 24/7. The token is down nearly 30% this year despite an August rebound, with a market capitalization near $83 billion. Spot XRP funds held around $1.5 billion in assets on October 26, while their trading volumes trailed funds tracking Bitcoin, Ether and Solana. Ripple’s revenue forecast is a projection, not financial advice; crypto markets are volatile and outcomes are uncertain.
Why it matters
The announcements push Ripple’s institutional business further into custody and banking at the same time its largest token trades lower, meaning the company’s commercial growth and XRP’s price are moving apart. For XRP Ledger users and institutional clients, the Aviva and BNY deals add regulated counterparts to a network that has mostly carried payments volume. BNY already holds reserves backing RLUSD, so its custody expansion deepens an existing relationship rather than starting one.
What to watch
No start date has been disclosed for the proposed tokenized trade finance services with BNY, and Robinhood has not given a date for adding RLUSD to its main app beyond this year. Both are the next concrete checkpoints on whether the forecast revenue pace holds.
Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.
Sources: Blockonomi, U.Today
