XRP has become available for direct spot trading to retail investors on Hong Kong’s licensed venue OSL Digital Securities, creating a regulated fiat gateway as US politicians continue to argue over nationwide crypto rules.
OSL Digital Securities, a subsidiary of OSL Group, began offering XRP trading to the public on 29 July, the firm confirmed. OSL Group is listed on the Hong Kong Stock Exchange under stock code 863.
The move makes OSL the first platform authorised by Hong Kong’s Securities and Futures Commission (SFC) to provide retail traders with direct spot access to XRP, rather than limiting the asset to professional clients.
New fiat routes into XRP
Through its Flash Trade service, OSL has introduced an XRP/USD trading pair for retail customers. The firm’s over-the-counter desk also supports XRP/USD and XRP/HKD pairs, with all transactions settled via the XRP Ledger.
The addition of the Hong Kong dollar pair gives local retail investors a regulated fiat on-ramp into XRP for the first time on an SFC-licensed venue. Until now, many small investors in the city relied on offshore exchanges that are not covered by Hong Kong’s licensing regime.
With the latest expansion, XRP sits alongside Bitcoin, Ethereum and Solana as the four digital assets that OSL currently makes available to retail clients. The company holds Type 1 (dealing in securities) and Type 7 (automated trading services) licences from the SFC and is registered under Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
OSL says its custody arrangements include insurance coverage of $1bn for client assets held on the platform.
From professional-only to public access
The retail launch builds on OSL’s initial decision to list XRP in December 2025, when trading was restricted to professional investors such as institutions and qualifying high-net-worth clients.
That earlier phase supported XRP/HKD, XRP/USD and XRP/USDT pairs via Flash Trade. Broadening access to everyday investors marks the next step in OSL’s XRP strategy and fits with Hong Kong’s gradual widening of regulated crypto products available to the public.
The latest rollout also adds another regulated access point for XRP within Asia at a time when institutional players across the region are working on blockchain-based financial infrastructure.
SBI backs Canton Network in Asia push
Japan’s SBI Holdings, a long-standing partner of Ripple, strengthened its own on-chain strategy on 28 July by reorganising a wholly owned subsidiary around the Canton Network. SBI Security Solutions has been renamed SBI Digital Practice, becoming a dedicated unit for institutional blockchain finance.
The new subsidiary is set to build financial applications and infrastructure on Canton, including tools for regulatory compliance, implementation support for institutions and systems to facilitate cross-border transactions. This work adds Canton to SBI’s existing projects involving Ripple and the XRP Ledger.
Rising investment flows into XRP
OSL’s expansion into retail trading comes against a backdrop of growing interest in investment products linked to XRP. Spot exchange-traded funds tracking XRP have recorded eight straight weeks of net inflows, bringing total cumulative inflows to about $1.49bn.
Activity on the XRP Ledger has also diversified beyond simple transfers of XRP. Data provider RWA.xyz estimated that, as of 29 July, the total value of both distributed and represented real-world assets on the XRP Ledger stood at around $4.37bn. That figure included approximately $313.3m in distributed assets and $4.06bn in represented assets.
Ripple’s RLUSD stablecoin has been another source of network growth. Research firm Messari reported that RLUSD’s market capitalisation on the XRP Ledger jumped 44.9% quarter on quarter to $340.3m at the end of the first quarter of 2026, making it the largest stablecoin on the network.
Hong Kong moves ahead as US regulation stalls
Hong Kong’s decision to permit licensed retail trading of XRP contrasts with the slower pace of progress on federal crypto market rules in the United States.
Ripple chief executive Brad Garlinghouse has recently called on Congress to approve the Digital Asset Market Clarity Act despite ongoing disagreements over its contents. He backed Ripple chief legal officer Stuart Alderoty’s view that lawmakers should not abandon the bill while they search for a flawless compromise.
“Perfect can’t be the enemy of good. Let’s get this done!” Garlinghouse wrote.
The CLARITY Act remains tied up in a dispute in the US Senate over consumer protections, ethics limits, enforcement powers and measures to counter illicit finance. Seven Senate Democrats have come out against the current draft but have left the door open to further negotiations.
For US-based investors, OSL’s launch does not automatically provide access, as they must still satisfy the platform’s jurisdictional and eligibility requirements. Its wider significance lies in illustrating how Hong Kong is steadily adding assets to regulated retail platforms, while the US continues to work toward a single national framework for defining and overseeing digital assets.
