Ripple’s DPB Model Wants to Kill Exchange-Centric Crypto
The post Ripple’s DPB Model Wants to Kill Exchange-Centric Crypto appeared on BitcoinEthereumNews.com.
Ripple drops a bombshell whitepaper pitching a Digital Prime Broker model to transform institutional crypto trading. Is this the FX blueprint crypto needs? Ripple just dropped something big. The company released a whitepaper titled “The Blueprint for Institutional Digital Assets Trading,” and the crypto market is paying attention. ChartNerdTA on X was among the first to flag it, posting: “BREAKING! Ripple announces a new Whitepaper labelled: ‘The Blueprint For Institutional Digital Asset Trading.’ Introducing the ‘Digital Prime Broker’ model. $XRP #RLUSD #XRPL.” The post lit up discussion across crypto circles fast. The whitepaper, available directly from Ripple’s official reports page, lays out a sharp critique of how digital assets currently trade. Exchanges today bundle execution, custody, and credit into one silo. That, according to Ripple, is the problem. You might also like: Ripple Eyes U.S. Banking Access as OCC Expands Trust Powers The Hidden Cost No One Talks About Most institutions don’t realize what bilateral trading actually costs them. The paper says offshore exchanges and bilateral liquidity providers embed default risk into spreads, charging roughly 11% in swap rates. About 7% above the risk-free rate. That translates to nearly $192 per million per day in hidden costs. That’s not a spread. That’s a tax. Ripple argues the current model also uses client collateral as interest-free working capital. Zero percent interest. Exchanges run on it. But when things break, as they did with FTX and Celsius, that free capital vanishes, and markets unravel fast. Must read: Wall Street Goes All-In on Bitcoin: Custody, ETFs, Trading Three Pillars, One Big Shift The Digital Prime Broker model rests on three things. Centralized credit intermediation, aggregated liquidity, and T1 net settlement. Under the proposed structure, a DPB sits between clients and executing dealers. All trades get given up to the prime broker. The DPB…
Filed under: News - @ February 28, 2026 11:15 am