Paxos Just Switched On XRP—Will PayPal, Venmo, Schwab Follow?
Paxos added XRP to its crypto brokerage—now the question is which partner apps will flip the switch.
What Paxos announced
Paxos said on Oct. 7 in a post on X that its brokerage now supports XRP, enabling partners to offer buying, selling, holding, deposits, and withdrawals. Paxos wrote: “Partners can now offer XRP through the same regulated platform trusted by some of the biggest names in finance.” The post also cited XRP holdings “across more than 8.1 million wallets” and placed the token’s market capitalization at “nearly $95 billion.”
Who could offer XRP next
The XRP Ledger Foundation (XRPLF) amplified the news the same day, stating on X: “Paxos Crypto Brokerage, the regulated back end used by PayPal, Venmo, Interactive Brokers, Charles Schwab, and Mercado Libre, now supports $XRP. Partners can now offer XRP for buy, sell, hold, deposit, and withdrawal through Paxos Crypto Brokerage.” XRPLF’s post describes the back-end provider used by those firms; it does not confirm any individual partner will enable XRP.
The source article added that each financial business determines which currencies and transfer functions reach its customers.
How the plumbing works
According to the article, Paxos’ trading and custody platform provides safekeeping, connects to liquidity providers that supply prices, and monitors trade execution for completed orders. The piece also noted a prior example: during Charles Schwab’s retail crypto rollout in May, Paxos completed transactions and provided sub-custody while Charles Schwab Premier Bank handled custody and record-keeping; that launch initially covered bitcoin and ether.
The regulatory and product road map
The article states that the Office of the Comptroller of the Currency conditionally approved Paxos’ national trust bank conversion on Dec. 12, 2025, and that Paxos now operates under that federal charter. It also says Paxos announced the acquisition of wallet technology firm Fordefi in November 2025 and later linked that technology to expanding token coverage.
By June 16, Paxos had more than doubled its supported brokerage asset list to 29 tokens, according to Asset Tarabayev, head of brokerage product. That June update, per the article, said selection depends on demand, market depth, legal classification, and regulatory history, and set a target of covering much of the top 50 cryptocurrencies by market cap by year-end.
Context on XRP
The article notes XRP is the native asset of the XRP Ledger, has been in circulation since 2012, and has typical settlement times of three to five seconds.