Market News / Story
Ripple Takes On Wall Street Banks in Leveraged ETF Financing
Benzinga ·
Benzinga reports: Ripple is muscling into Wall Street’s swap financing business for leveraged ETFs, a lucrative corner of finance long dominated by big banks. How Ripple Is Challenging Banks The Wall Street Journal reported Wednesday that Ripple has become a real competitor in swap financing for leveraged ETFs, a business banks have run profitably for years, using total return swaps to deliver amplified returns like doubling a stock’s daily move in exchange for a fee. Morningstar Direct…