Ripple Signed Three Institutional Deals in One Day. Which of Them Actually Needs XRP?
Key Summary
Ripple closed three major institutional deals in one day, but only one requires XRP, according to a recent announcement. The Paxos deal makes XRP a featured product, while Meritz and Canton expand custody services without needing the token. XRP's price has dropped 9% in the last week, and its value has decreased by 63% from its July 2025 peak. Institutions can pay for Ripple's services without purchasing XRP, contributing to the cryptocurrency's decline.
Introduction
Ripple has signed three significant institutional deals in one day, with only one of them requiring the use of XRP. The announcements were made in a recent press release by the company.The Deals
The three deals are with Meritz Securities, a prominent South Korean brokerage, Paxos, a key player in the crypto trading and custody space, and Canton Network.#
Meritz Securities
Meritz Securities plans to explore tokenization and Ripple Custody services with Ripple. Tokenization represents financial assets as tokens on a blockchain, making them easier to move and settle. The custody service involves securely holding these digital assets for institutions.
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Paxos
Paxos has added XRP to its institutional brokerage and custody offerings, making it a featured product. However, the listing does not require any partner to actually purchase XRP. Paxos has not disclosed how many clients use the service, its trading volume, or any associated fees.
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Canton Network
Canton Network announced that Ripple Custody will now support its blockchain. This arrangement has no direct need for XRP, as clients will hold Canton assets.