Ripple Prime Receives BBB Issuer Rating from KBRA
- KBRA assigned Ripple Prime an issuer rating of BBB, citing its strong capital position.
- As of Q3, Ripple holds nearly $5 billion in cash and approximately 40 billion XRP coins.
- Ripple’s profitability is largely driven by digital asset activities, including XRP sales.
- The firm has seen significant balance sheet growth over the past year and achieved profitability.
- Ripple Prime added support for BTC, ETH, SOL, and XRP derivatives through Coinbase derivatives recently.
KBRA’s rating reflects Ripple Prime’s robust financial backing and operational strategy to diversify its offerings within the crypto space. The firm’s revenue concentration may pose risks due to potential price volatility of XRP.
With a strong capital position highlighted by nearly $5 billion in cash and substantial XRP holdings, Ripple Prime is positioned for growth despite market sensitivities. (Source)
