Ripple's two new trademark filings outline a full Wall Street stack
Ripple filed two new USPTO trademark applications covering prime brokerage, securities lending, and hedge fund management. The filings confirm branding for infrastructure already in operation, but XRP holders are still waiting for company growth to lift the token.
@Ripple submitted two trademark applications to the @uspto on May 15, 2026, covering its Triskelion logo and the Ripple word mark. The service lists are what stand out. They cover hedge fund management, securities lending, prime brokerage, financial clearinghouse operations, and brokerage across equities, derivatives, fixed income, foreign exchange, and commodities.
Infrastructure First, Branding Second
These filings are not aspirational. In the year since Ripple closed the Hidden Road deal, Ripple Prime's revenue has tripled. The trademarks are the legal paperwork catching up to a business that is already running and growing fast.
In 2025, Ripple paid $1.25 billion for Hidden Road and rebranded it Ripple Prime, becoming the first crypto company to own and operate a global, multi-asset prime broker. Ripple Prime now clears more than $3 trillion a year for over 300 institutional clients. Alongside Ripple Prime, the company operates GTreasury for Fortune 500 treasury teams, Metaco for digital asset custody, and ethereum:0x8292bb45bf1ee4d140127049757c2e0ff06317ed. The Office of the Comptroller of the Currency conditionally approved a national trust bank for Ripple in December 2025, with a final rule in April 2026 moving the process forward. The trademark filings are a branding layer across a stack that is largely already built.
The Gap Between Company Growth and $XRP Price
The more pressing question for $XRP holders is why none of this is showing up in the token's price. Ripple spent roughly $3 billion on acquisitions in 2025, and Q1 2026 is the first full quarter where that investment is producing real returns, with Ripple Prime as the biggest contributor. Yet the token has moved in the opposite direction.
The key distinction is that Ripple as a company is separate from the XRP token. Owning XRP does not give holders a piece of Ripple. As Ripple Prime tripled its brokerage revenue, that money flows to Ripple's equity holders, and Ripple is a private company valued at $50 billion that is not publicly tradable. Banks are using Ripple's software, but they are not settling in or using XRP enough to create meaningful demand for the token.
Ripple Prime's revenue tripled in a year while $XRP slid from above $2 to around $1.31. The trademark filings confirm that the company's institutional infrastructure is real and expanding. Whether that eventually creates a durable bid for the token remains the open question.
Sources:
24/7 Wall St.: Ripple Filed Trademarks Showing It Is Becoming a Full Financial Institution
24/7 Wall St.: Ripple Reported a Record Q1 While XRP Price Dropped
Crypto.news: Ripple Trademark Filings Signal Deeper Push Into Wall Street
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.