Paxos Taps XRP for Brokerage Menu—$XRP Itself Taps the Brakes 📉

Paxos has added XRP support to its Crypto Brokerage platform, enabling partner businesses to offer the token through the firm's regulated infrastructure, according to a recent post on X. The move extends Paxos's digital asset lineup and broadens institutional access to a token that, per Paxos, has been in circulation since 2012 and is currently held across more than 8.1 million wallets.

The company described Crypto Brokerage as a service built for businesses seeking compliant crypto rails, a positioning that places XRP alongside other supported assets available to Paxos's partner platforms. The XRP Ledger Foundation also commented on the development, noting that Paxos Crypto Brokerage already serves major financial platforms, including PayPal.

The announcement comes as Ripple continues to expand its institutional footprint through separate partnerships with Canton and Brevan Howard, signaling parallel efforts to deepen the token's presence across both on-chain infrastructure and traditional finance.

Market reaction, however, was less celebratory. XRP's price fell more than 6% amid a broader crypto market downturn, with traders citing broad-based weakness and concerns over potential selling pressure linked to Ripple. The token's decline tracked wider losses across major digital assets, even as the Paxos integration news circulated.

Paxos's expansion adds another regulated venue for XRP trading and custody distribution at a time when tokenized real-world assets and bank-grade blockchain rails are drawing increased institutional attention. Whether the new brokerage support translates into sustained demand for XRP will depend on partner onboarding and broader market conditions in the sessions ahead.