Ripple Targets $900 Million Revenue Run Rate as XRP Custody Expands

Ripple said Oct. 28 it expects to end 2026 with a $900 million annualized product revenue run rate, as it integrates acquired businesses and expands relationships with financial institutions. The announcement comes alongside broader institutional custody access for XRP and new arrangements spanning stablecoin settlement, trading and treasury management.

The revenue figure is a projection of the company’s expected year-end operating pace, not a statement that it has already generated $900 million during the year. An annualized run rate expresses what revenue would total over 12 months if that pace were maintained; it does not establish profitability.

In its announcement, Ripple attributed the outlook to growth in existing products and businesses acquired in 2025. It said the number of customers and partners using multiple solutions had tripled this year, naming BNY, DriveWealth, Robinhood and Water.org among those combining services.

The strategy brings payments, custody, stablecoins, prime brokerage and treasury management into a connected offering. For institutional customers, the proposition is access to several financial functions through one infrastructure provider, rather than adopting separate digital asset tools for each task.

BNY said Oct. 27 that its Digital Asset Custody platform now supports XRP and Ripple USD, or RLUSD. Eligible institutional clients can safeguard, hold and transfer the assets within the bank’s existing governance and operational controls, extending a relationship that already includes custody of RLUSD reserves and services for Ripple Prime.

That development broadens the infrastructure available to institutions holding XRP, but custody support is distinct from an investment commitment. Providing a service for clients to hold and transfer an asset does not itself demonstrate that the bank is buying that asset or that clients will increase their holdings.

Ripple and BNY are also exploring tokenized trade finance on the XRP Ledger with working capital platform C2FO. The proposed work includes supply chain financing, which allows suppliers to receive early payment against approved invoices, with implementation dependent on client requirements.

Other elements remain conditional rather than fully available services. According to Bitcoin.com News, BNY’s plans for direct RLUSD minting and redemption, as well as support for additional tokenized assets and investment products, remain subject to final bank and regulatory approvals.

Separately, Ripple’s agreement with Robinhood covers stablecoins, institutional markets and treasury operations. The companies said RLUSD would support institutional settlement, while Robinhood would use Ripple Treasury for its financial operations and gain access to Ripple Prime financing, illustrating how the partnerships extend beyond XRP custody alone.

The next milestones are whether Ripple reaches its projected year-end revenue pace and how the announced partnerships move into wider use. The company’s outlook rests on integrating its services, while proposed trade finance and additional banking functions still depend on development, customer needs and applicable approvals.