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Ripple has announced a strategic partnership with TJM Investments, a FINRA-registered broker dealer, and TJM Institutional Services, an NFA-registered introducing broker. Under the terms of the agreement, Ripple has invested in TJM and will continue to provide infrastructure to support TJM's execution and clearing services.
The financial technology company, which offers crypto solutions for businesses, has a long-standing relationship with TJM through its multi-asset prime brokerage platform, Ripple Prime. The partnership focuses on providing institutions with trade execution, clearing and financing services.
The expanded partnership enables TJM to offer its clients improved capital and collateral efficiency, as well as enhanced clearing stability and balance-sheet support. Leveraging Ripple Prime's capabilities in digital markets, TJM expects to expand its coverage into digital assets in the coming months for clients including hedge funds, family offices, asset managers and global investors.
Noel Kimmel, President of Ripple Prime
Noel Kimmel, President of Ripple Prime, said:
"We are pleased to deepen our partnership with TJM, which reflects the shared vision and trust the principals of our businesses have cultivated for over a quarter-century. TJM's strong execution experience across asset classes, combined with the scale and reach of Ripple Prime, is a powerful value proposition for institutions globally. We look forward to supporting the continued growth of TJM's business, including through its expansion into digital assets, and to participating in that growth as a strategic investor."
Steve Beitler, Co-Manager, TJM
Steve Beitler, Co-Manager, TJM, commented:
"Ripple Prime has long been an important partner to TJM and our joint clients, delivering the operational standards expected by the most sophisticated financial market participants worldwide. We are thrilled to build on our relationship through this investment, which provides TJM with the resources and infrastructure required to support the order flow we execute on behalf of counterparties, particularly as institutions increasingly seek exposure to digital assets."
Ripple is a financial technology company that offers crypto solutions for businesses. Ripple Payments uses blockchain to make cross-border payments faster, more transparent and widely accessible. Ripple Custody offers customers a secure way to store and manage digital assets. Through Ripple Prime, the company offers a global, multi-asset prime brokerage for institutional customers. Ripple's stablecoin (RLUSD) and the cryptocurrency, XRP, are leveraged across these solutions to make traditional finance more efficient and enable new ways to utilise digital assets.
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