XRP Developer Ripple Projects $900M Product Revenue Run-Rate

Ripple Guides 2026 Product Revenue to $900 Million

Ripple, the payments company behind XRP, said on Wednesday it expects annualized product revenue to reach a $900 million run-rate by the end of 2026. The figure, disclosed in its official announcement as the company's Swell conference opened, is a run-rate rather than a cumulative total: it annualizes the product revenue Ripple expects at year-end, and management credited growth across payments, custody, stablecoin issuance, prime brokerage and treasury management. Since the start of 2026, the number of customers and partners using two or more Ripple products has tripled, the company said, and cumulative volume settled through Ripple Payments is on course to approach $150 billion by year-end. Its dollar stablecoin, RLUSD, has reached a $2.6 billion market capitalization. CEO Brad Garlinghouse framed the results as part of a convergence between traditional and digital finance, saying market infrastructure is shifting toward modern financial networks in which payments run in real time around the clock and tokenized assets can be used as collateral beyond trading and financing. Ripple also attributed part of the revenue lift to its 2025 acquisitions, now integrated into the product stack, rather than organic growth alone. The update arrived as Swell 2026 opened, where attention turned to the broader XRP ecosystem; the XRP price itself was not part of the guidance, which concerns Ripple's commercial operations. The company positioned the business as a bridge between traditional payment rails and wider PayFi infrastructure, where settlement, liquidity and collateral operate continuously. Among the operational releases, Ripple Treasury, the corporate cash-management service, serves more than 1,000 customers across 160 countries, including American Airlines and Trax, and a new 24/7 Returns feature lets companies put idle cash to work outside banking hours using RLUSD and tokenized money market funds on the XRP Ledger, an institutional setup distinct from retail yield farming.

Federal Trust Charter and RLUSD Growth

A second disclosure carries regulatory weight: Ripple said it has received final approval from the Office of the Comptroller of the Currency (OCC) to launch Ripple National Trust Bank, which will operate as a federally supervised national trust bank. In practice, a charter of this kind lets the bank hold customer assets under federal supervision, tying custody directly into the settlement stack. It sits alongside more than 85 licenses the company holds worldwide, with its financial infrastructure serving over 1,700 institutions and companies. RLUSD, the token at the center of the announcement, has grown more than 88% since the start of the year to its $2.6 billion size and trades on major crypto exchanges including Coinbase, which listed RLUSD, as well as Robinhood, Binance, Kraken and OKX. Work with Cross River and Mastercard is extending the stablecoin into card and payment flows. The partnership slate is broad: Ripple is expanding work with BNY to tokenize trade finance on the XRP Ledger, beginning with a supplier-finance initiative alongside C2FO, and counts DriveWealth, Robinhood and Water.org among clients using multiple solutions. Its payments network reaches more than 60 payment markets, and institutions including DBS, HSBC, FirstRand Bank and Standard Chartered use Ripple for payments and custody, spanning stablecoin acceptance, digital asset storage and settlement in preferred currencies. Across all products, the company says it enabled more than $16 trillion of activity in 2025, a figure kept separate from the $150 billion cumulative payments total. Ripple Prime, the institutional brokerage arm, bundles trading, financing and clearing across equities, foreign exchange, futures, fixed income and digital assets, with activity linked to platforms including Jump Trading, Kalshi, Hyperliquid, Virtu and Rothera. On the wallet side, Privy, owned by Stripe, supports payments in XRP, RLUSD and other ledger assets through programmable wallets, including for AI agents.

A Run-Rate, Not Total Revenue

A run-rate is not total revenue, and that distinction matters for how the $900 million figure should be read: it annualizes the exit pace of 2026, so the actual top line depends on whether momentum holds through the final quarter. The tripling of multi-product customers points to cross-selling into an existing base rather than one-off deals, a pattern consistent with the acquisitions Ripple folded in last year. The OCC charter is the second lever: a federally supervised trust bank can hold client assets and wire custody into settlement in ways a licensed money-transmitter stack cannot. Garlinghouse, who ruled out an XRP exit at Swell 2026, is pitching Ripple as financial infrastructure. Whether the institutional pull converts into sustained demand for XRP itself is the open question.