As partnership news continues to emerge in the cryptocurrency market, the latest announcement comes from Ripple (XRP), one of the most prominent names in the market.
According to Coindesk, Ripple has invested in TJM Investments, a FINRA-registered brokerage firm, as part of a strategic partnership to solidify its presence in the US market.
On December 18, Ripple announced a strategic partnership with TJM Investments, a securities brokerage firm registered with the U.S. Financial Industry Regulatory Authority (FINRA), and TJM Institutional Services, a brokerage firm registered with the U.S. National Futures Association (NFA).
According to its official website, Ripple will invest an undisclosed amount in TJM as part of the deal.
As part of the agreement, Ripple will also provide its core brokerage service, “Ripple Prime,” as infrastructure to support TJM’s order execution and clearing operations.
TJM has also stated that it plans to expand its scope for digital asset trading in the coming months. At this point, if TJM truly announces that it will begin supporting digital assets, there is speculation that XRP, already supported by Ripple Prime, could be among the first crypto assets.
Ripple Prime, Ripple’s multi-asset master brokerage platform, is also reportedly a long-term partner of TJM.
*This is not investment advice.
