Paxos integrated XRP into its crypto brokerage service Oct. 7, opening a regulated distribution channel for the token across PayPal, Venmo, Interactive Brokers, Charles Schwab and Mercado Libre.
Partners can now facilitate buy, sell, hold, deposit and withdrawal functions for XRP through Paxos' infrastructure. The move taps into XRP's existing holder base of 8.1 million wallets and $95 billion market capitalization.
XRP, native to the XRP Ledger, settles payments in three to five seconds. The token has circulated since 2012 and sits among the largest cryptocurrencies by market cap.
Paxos' brokerage platform provides safekeeping, liquidity sourcing and trade execution monitoring for financial businesses introducing digital currency products. Each partner decides which currencies to offer and whether it holds custody or users control their own wallets.
The integration follows Charles Schwab's retail crypto rollout in May, where Paxos handled transaction processing and sub-custody for bitcoin and ether while Schwab Premier Bank managed primary custody.
Paxos operates under a federal trust bank charter granted conditional approval by the Office of the Comptroller of the Currency on Dec. 12, 2025. That regulatory standing underpins its role as a backend for major financial platforms entering crypto.
