Ripple has announced that it is expanding its institutional footprint in the U.S. with the launch of digital asset spot prime brokerage services.
The move follows Ripple’s acquisition of the multi-asset prime brokerage firm Hidden Road, which has now been rebranded as Ripple Prime, integrating both companies’ regulatory and operational frameworks to create a comprehensive institutional trading platform.
With the closing of the Hidden Road acquisition in October 2025, Ripple said it has taken a decisive step toward becoming a one-stop shop for institutional clients engaging with digital assets.
Ripple Prime will now provide U.S.-based institutions with access to over-the-counter (OTC) spot execution across dozens of leading cryptocurrencies, including XRP and Ripple’s U.S. dollar-backed stablecoin, RLUSD.
The platform’s infrastructure combines Ripple’s blockchain expertise with Hidden Road’s established prime brokerage capabilities, covering asset classes such as foreign exchange (FX), digital assets, derivatives, swaps, and fixed income.
The integration provides institutional investors with the ability to execute complex trading strategies efficiently within a regulated environment.
Ripple Prime’s OTC spot functionality enhances its suite of institutional products, allowing clients to cross-margin their holdings and trades across multiple digital asset instruments. U.S.-based clients can now manage OTC spot, swaps, and CME futures and options positions within a single account structure.
Michael Higgins, international CEO of Ripple Prime, said the development is part of the company’s strategy to deliver end-to-end institutional infrastructure:
“The launch of OTC spot execution capabilities complements our existing suite of OTC and cleared derivatives services in digital assets and positions us to provide U.S. institutions with a comprehensive offering to suit their trading strategies and needs,” said Higgins.
The prime brokerage model addresses one of the key institutional challenges in crypto — fragmented liquidity and collateral inefficiency — by integrating spot and derivative markets under Ripple’s umbrella.
Ripple’s entry into U.S. prime brokerage marks a milestone moment in the maturation of the crypto industry. The move aligns with the growing demand among financial institutions for regulated, transparent, and efficient digital asset services.
Ripple Prime’s infrastructure builds on the company’s broader ecosystem, which includes Ripple Payments, a blockchain-based cross-border payment network, and Ripple Custody, a secure asset storage solution for institutional clients. Both are designed to use Ripple’s technologies, including XRP and RLUSD, to enhance liquidity, settlement efficiency, and compliance.
Founded in 2012, Ripple continues to position itself at the intersection of traditional finance and blockchain innovation. With Ripple Prime’s expansion into spot trading, the company now offers a full suite of institutional-grade solutions — from payments and custody to multi-asset trading and financing.
By combining blockchain transparency with established financial frameworks, Ripple seeks to make digital asset markets as accessible and efficient as traditional capital markets, reinforcing its vision of a more connected, open financial system.
Ripple reports that its U.S. dollar-backed stablecoin RLUSD has reached a $1 billion market cap just one year after launch, positioning RLUSD as one of the most trusted and transparent stablecoins for institutional use. Backed 1:1 by USD reserves, RLUSD has rapidly gained traction among enterprise users seeking compliant, efficient settlement options.
With Ripple Prime, GTreasury, and Rail now integrated into Ripple’s ecosystem, both $RLUSD and $XRP are driving faster, more compliant, and more scalable settlement solutions across global markets.
Ripple says this collaboration supports its mission to advance the future of finance through innovation, transparency, and institutional-grade infrastructure.
