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What did a Hong Kong watch trader do with XRP it received as loan collateral from a USDT lender?

Confirmed Published 1 min read

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In its MD&A for the six months ended June 30, 2026, a Hong Kong watch trader reported receiving XRP (along with BTC and USDT) upon enforcement of collateral under a USDT loan, and recognized realized gains mainly from converting that XRP into USDT.

The full answer

What did U.S. Securities and Exchange Commission state?

On June 30, 2026, U.S. Securities and Exchange Commission stated the following. In its MD&A for the six months ended June 30, 2026, a Hong Kong watch trader reported receiving XRP (along with BTC and USDT) upon enforcement of collateral under a USDT loan, and recognized realized gains mainly from converting that XRP into USDT. [1]

The source’s own words: “we purchased additional USDT for investment and treasury diversification purposes, received USDT from a third party borrowing, and received BTC, XRP and USDT upon enforcement of collateral, and USD Coin (USDC) as interest, under a USDT loan advanced to a third party.” [1]

Where does this fit on the site?

For the wider picture, see Does Ripple Prime accept XRP as collateral? and Does XRP meet the tests for institutional collateral?. Two related questions are How much can you borrow against XRP, and who sets the haircut? and Is XRP already used as collateral and credit, or is that still in the future?

What we know

  • In its MD&A for the six months ended June 30, 2026, a Hong Kong watch trader reported receiving XRP (along with BTC and USDT) upon enforcement of collateral under a USDT loan, and recognized realized gains mainly from converting that XRP into USDT (U.S. Securities and Exchange Commission, June 30, 2026).

In plain English

In its MD&A for the six months ended June 30, 2026, a Hong Kong watch trader reported receiving XRP (along with BTC and USDT) upon enforcement of collateral under a USDT loan, and recognized realized gains mainly from converting that XRP into USDT.

Sources

  1. SEC EDGAR (Form 6-K exhibit) — U.S. Securities and Exchange Commission, 2026-06-30 Primary

Related breadcrumbs

Before thisDoes Ripple Prime accept XRP as collateral? Next on this TrailDoes XRP meet the tests for institutional collateral? Go deeperHow much can you borrow against XRP, and who sets the haircut? The other sideIs XRP already used as collateral and credit, or is that still in the future?

Update log

  • — Published.

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