Paxos Adds XRP, but Partners Still Hold the Switch

Paxos added XRP to Crypto Brokerage on October 7, 2026, so partner firms can buy, sell, hold, deposit, and withdraw it. XRP still fell more than 6% that day to $1.43.

PayPal, Venmo, Interactive Brokers, Charles Schwab, and Mercado Libre already sit on those rails. None of them said they would put XRP in front of customers.

Paxos Put XRP on the Brokerage Menu

The company posted the change as a product note, not a consumer launch. “Paxos Crypto Brokerage now supports $XRP,” it wrote, citing circulation since 2012, holdings across more than 8.1 million wallets, and a market cap of nearly $95 billion.

Paxos Crypto Brokerage now supports $XRP.

In circulation since 2012, XRP is now held across 8.1M+ wallets, and carries a market cap of nearly $95B.

Partners can now offer XRP through the same regulated platform trusted by some of the biggest names in finance. pic.twitter.com/yiFeuU0ELb

— Paxos (@Paxos) October 7, 2026

Paxos documentation now lists XRP as a native XRP Ledger asset available for both trading and custody, with a USD pair on the same order books partners already use for bitcoin and ether. The XRP Ledger Foundation, a nonprofit that supports the ledger, said partners can now offer XRP for buy, sell, hold, deposit, and withdrawal through that stack.

WHAT PARTNERS CAN TURN ON

• Buy and sell: Partners can route XRPUSD orders through Paxos instead of standing up their own exchange.
• Hold: Balances sit in Paxos custody under the partner’s branded account flow.
• Deposit: Clients can send XRP onto the platform from an external wallet.
• Withdraw: Clients can send XRP off the platform to an external address.
• API only: The partner still owns the app, the account, and the decision to show the asset.

That last point is the whole product. Paxos sells white-label brokerage, qualified custody, licensing, and trading so a bank or fintech does not have to build a desk, a wallet stack, and a liquidity network from scratch. It also takes the counterparty and settlement risk between the partner and the market. The partner keeps the client.

No PayPal or Schwab Button Yet

The XRP Ledger Foundation named five platforms already served by Paxos Crypto Brokerage. Naming them is not the same as listing XRP on their apps. Each firm still chooses its own token menu, and no firm in that group posted an XRP product start tied to the October 7 update.

Charles Schwab is the cleanest test, because it has published a public lineup. Schwab Crypto began rolling out in May 2026 with bitcoin and ether. On August 27, 2026, the firm said clients would soon be able to buy and sell solana, avalanche and chainlink in Schwab Crypto accounts. XRP was not in that list.

Joe Vietri, Schwab’s head of digital assets, said the expansion would give clients “more choices to build a digital asset allocation alongside the investing and banking experience they know and trust at Schwab.” Schwab reported $13.04 trillion in client assets at the end of July and charges 75 basis points on each crypto trade. It also said it may delay, change, or withdraw support if conditions change. That is a compliance menu, not a promise to clone Paxos’s full book.

Schwab’s crypto service uses Paxos for trade execution and sub-custody, with Charles Schwab Premier Bank as the primary holder of customer assets. Clients trade in a separate Schwab Crypto account tied to an existing brokerage relationship. Even on that setup, the next three tokens Schwab chose were SOL, AVAX, and LINK.

PAXOS CLIENTS AND PUBLIC XRP STATUS

Paxos’s own client list is wider than those five names. Its newsroom also cites Mastercard and Nubank. The same rule applies there. A token can be live on the infrastructure layer for months before a consumer app shows a buy button, and some apps never show it.

What an OCC Trust Bank Adds for XRP Partners

The reason firms rent this stack is the charter. Paxos converted its New York Department of Financial Services limited purpose trust to a national trust overseen by the Office of the Comptroller of the Currency on December 12, 2025. U.S. activity at Paxos Trust Company then moved under OCC supervision, with coverage described as live across all 50 states.

Charles Cascarilla, Paxos CEO and co-founder, tied that conversion to a decade of state-level trust work that started with a 2015 NYDFS charter.

Paxos was the first regulated trust company for digital assets in the US with our 2015 NYDFS charter. In our decade as a regulated entity, we’ve established a reputation as a trustworthy partner capable of meeting the highest standards of compliance. Paxos is now entering a new phase of regulatory supervision and we’re excited to power a platform subject to federal oversight and supervision.

Charles Cascarilla, CEO and co-founder, Paxos newsroom

The OCC also gave Ripple conditional approval for a national trust on that same December day, so two firms that now sit near XRP in different ways cleared federal trust paper together. Paxos is the brokerage utility inside other brands. Ripple still sells its own payments, custody, prime brokerage, and RLUSD stack. Putting XRP on Paxos does not route those partner flows through Ripple’s bank.

Paxos says it has raised more than $500 million, with PayPal Ventures among the backers, and that it is also overseen by FIN-FSA in Europe and the Monetary Authority of Singapore. For a broker, that mix is the product. Legal, custody, and liquidity arrive as one vendor, which is why an asset clearing Paxos review is a real gating step even when no app has flipped it on.

The 29-Asset Bar XRP Had to Clear

XRP did not land on an empty roster. On June 16, 2026, Asset Tarabayev, Paxos head of brokerage product, wrote that the firm had more than doubled its supported list to 29 and was aiming to cover much of the top 50 tokens by market cap, using CoinMarketCap as the reference, by year end.

PAXOS XRP SNAPSHOT

• Wallets cited: More than 8.1 million, per the October 7 Paxos post.
• Market cap cited: Nearly $95 billion at the announcement.
• Brokerage book: 29 assets as of the June 16 product note, with a top-50 target.
• Order cap: XRPUSD market and limit orders share a $1,000,000 maximum notional.

Tarabayev described a bar that is supposed to stay fixed as the list grows. Demand only puts a token on the radar. Liquidity and regulatory clarity get it onto the platform, and every asset runs through the same structured review the firm uses as an OCC-regulated national trust bank.

Demand gets an asset on our radar. Liquidity and regulatory clarity get it onto the platform. Every asset clears the same structured review before it goes live, the same review we operate under as an OCC-regulated national trust bank, with a standard that hasn’t moved as we’ve scaled.

Asset Tarabayev, Head of Brokerage Product, Paxos

Once live, each asset stays under monitoring for protocol bugs, rule changes, and market-structure shifts, with Travel Rule reporting from day one on a new chain. If an asset’s status changes in a material way, Paxos says it tells partners before the change hits their clients. That is the opposite of a meme-coin listing race. It is also why XRP showing up next to SOL, AVAX, and LINK on the Paxos book does not force Schwab, or anyone else, to match that book on the retail screen.

A $149.6 Million XRP Transfer Landed First

The brokerage note landed in a down tape. XRP printed $1.43 on October 7, down more than 6% on the day, during a wider crypto slide. A large Ripple-linked transfer the day before gave traders a second story to argue about, and that argument is not settled.

Whale Alert, the on-chain tracker, flagged 99,866,844 XRP, valued at about $149.6 million at the time, leaving a Ripple wallet on October 6, 2026. The move settled at 4:18 p.m. UTC with a fee of 0.000015 XRP and destination tag 681503328. XRPScan traces then showed a hop from a Ripple-labeled wallet through a subwallet and onward to addresses some labelers tie to Binance. Other reads of the same path called it an internal shuffle with no exchange deposit and no sell order.

WHAT WE KNOW

• The size: 99,866,844 XRP moved from a Ripple-labeled wallet on October 6, worth about $149.6 million at that print.
• The clock: Settlement at 4:18 p.m. UTC, one day before the Paxos post.
• The 30-day flow: CryptoQuant put about 1.6 billion XRP moving onto Binance over 30 days in a report around October 5, without proving those coins were sold.

WHAT IS UNCONFIRMED

• A Binance sale: Wallet labels disagree on whether the October 6 coins ended on the exchange or stayed inside Ripple-controlled addresses.
• Intent: Ripple also moves XRP for on-demand liquidity and market making, so an exchange-tagged hop is not proof of a dump.

Treat those as two clocks. Paxos cleared a token for partner brokerage. Spot XRP was already under pressure from exchange inflows and a risk-off tape. Mixing them into one “Ripple sold into the Paxos headline” claim overfits a transfer that on-chain readers still split.

Ripple Prime Booked Brevan Howard on October 6

Ripple spent the same stretch adding institutional pipes that do not depend on Paxos partners. On October 5, 2026, Ripple Custody version 1.43 added the Canton Network, so clients can hold and transfer Canton Coin and CIP-56 tokens inside the vaults they already run. Signing keys stay in the client’s own hardware or key service. Ripple does not run the validator. That is a bank-grade custody add, and it is not an XRP listing.

On October 6, Ripple and Brevan Howard said Ripple Prime will provide multi-asset prime brokerage, clearing and financing to Brevan Howard funds. Brevan Howard manages about $35 billion. Funds managed by its affiliates took part in Ripple’s $500 million strategic round in 2025. Noel Kimmel, president of Ripple Prime, called the expansion a long-term commitment. Alan McGroarty, group COO of Brevan Howard, said the firm wanted digital-asset infrastructure that is easier to run as traditional and digital markets overlap. The release does not require Brevan Howard to buy XRP or to send orders through the token.

THE WEEK AROUND THE PAXOS SKU

1. October 5, 2026: Ripple Custody 1.43 adds Canton Coin and CIP-56 transfers on a bring-your-own-validator model.
2. October 6, 2026: Ripple Prime deepens its Brevan Howard mandate; 99,866,844 XRP leave a Ripple-labeled wallet.
3. October 7, 2026: Paxos turns on XRP for Crypto Brokerage partners; XRP trades at $1.43, down more than 6%.

Read in a line, the week is plumbing, not a synchronized bid. Paxos gave banks and fintechs a compliant way to offer XRP if they want it. Ripple sold more custody and prime coverage to institutions that may never touch the token. Spot holders still need a partner to press the button, and the largest U.S. brokerage already on Paxos rails used its last public expansion on three other assets.

Until PayPal, Venmo, Schwab, Interactive Brokers, or Mercado Libre posts an XRP product note of its own, the October 7 update is a SKU on a vendor price list. The apps people already open have not said they will sell it.

Frequently Asked Questions

Does the Paxos update mean PayPal or Charles Schwab now sell XRP?

No. Each partner still sets its own token list, and Schwab Crypto is a separate account tied to an existing brokerage relationship rather than a toggle inside a stock ticket. Schwab also reserved the right to delay, change, or drop announced tokens if market, regulatory, operational, or risk conditions change, which is how SOL, AVAX, and LINK were framed in August without a hard date.

What trading limits apply to XRP on Paxos Crypto Brokerage?

Paxos order docs set the XRPUSD minimum tick size at $0.000001 and allow the same USD markets to be quoted in Pax Dollar (USDP) and PayPal USD (PYUSD). Those dollar-token pairs sit on the brokerage APIs beside the plain USD book, so a partner can show XRP against a Paxos-issued stablecoin without leaving the same venue.

When did Paxos become an OCC national trust bank?

Paxos Trust Company, N.A. completed the conversion from its NYDFS limited purpose trust on December 12, 2025, the same day the OCC approval posted, and it is a national bank limited to trust operations rather than a deposit-taking lender. Crypto Brokerage runs from that chartered entity, which is why a new asset has to clear the same review as bitcoin and ether before a partner can switch it on.

Are XRP holdings on Paxos protected by SIPC?

No. Interactive Brokers’ Paxos-powered crypto account states that digital-asset trades occur on Paxos Trust Company, that positions are custodied solely with Paxos in an account in the client’s name outside IB, and that those holdings are not protected by SIPC. Partners can still offer buy, sell, hold, deposit, and withdraw once they enable the asset; the insurance wrapper is not part of that bundle.

Disclaimer: This article is news reporting and analysis of a product update and related market moves. It is informational only and is not investment advice, trading advice, or a recommendation to buy, sell, or hold XRP or any other digital asset. Readers should consult a licensed financial adviser or broker who can review their own objectives and risk limits before acting on any token, brokerage product, or custody arrangement mentioned here. Figures, listings, partner menus, and on-chain labels reflect the cited company posts, documentation, and trackers as of the dates in the article and can change as platforms add or drop assets and as wallet attributions are revised.