Ripple is deepening its institutional offerings in the U.S. after launching digital asset spot prime brokerage services, providing investors with a unified platform to trade, clear, and finance their cryptocurrency holdings. The move comes as the company completes its integration of Hidden Road, a multi-asset brokerage it acquired earlier this year and has since rebranded as Ripple Prime.
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Unified Access to Digital Assets and TradFi
According to the company, the new service, operated under Ripple Ripple Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may Read this Term Prime, enables institutional clients in the U.S. to execute over-the-counter (OTC) spot transactions across a broad range of digital assets, including Ripple’s own XRP and the stablecoin RLUSD.
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Ripple said the launch brings together Hidden Road’s brokerage framework and Ripple’s existing licenses to deliver comprehensive market access that spans foreign exchange, digital assets, derivatives, swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, and fixed income.
Ripple Prime’s U.S. clients can now cross-margin OTC spot transactions and holdings with other positions, including OTC swaps and CME futures and options. This enables institutions to manage exposure and capital more efficiently across multiple asset classes within a single account.
"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," commented Michael Higgins, International CEO, Ripple Prime.
The integration with Hidden Road, finalized in October 2025, boosted Ripple’s ability to deliver full-service institutional solutions. The rebranded Ripple Prime now functions as a multi-asset platform built to bridge traditional and digital finance.
Expanding Institutional Capabilities
Ripple’s institutional strategy continues to evolve around three core products: Ripple Payments, Ripple Custody, and Ripple Prime. The company positions its infrastructure as a bridge between conventional financial systems and blockchain-based assets, leveraging XRP and RLUSD to enhance settlement speed and transparency.
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The U.S. expansion marked a significant step in Ripple’s ambition to become a key infrastructure provider for institutions trading across digital and traditional markets.
Last month, Ripple completed its acquisition of non-bank prime broker Hidden Road and rebranded it as Ripple Prime, marking a major step in its push into institutional prime brokerage and digital asset services. The move positioned Ripple as a crypto-focused firm operating a global prime brokerage platform spanning FX, digital assets, derivatives, swaps, and fixed income.
