Ripple has expanded its institutional footprint in the US with the launch of a digital asset spot prime brokerage, following its $1.25 billion acquisition of Hidden Road. The new Ripple Prime platform will offer over-the-counter (OTC) spot trading for major cryptocurrencies, including XRP, RLUSD, and other digital assets.
The acquisition, finalized last month, enabled Ripple to integrate Hidden Road’s licenses and infrastructure, creating a unified platform for clearing, financing, and execution across digital assets, derivatives, FX, and fixed income.
Michael Higgins, CEO of Ripple Prime, said the new service “complements Ripple’s existing suite of OTC and cleared derivatives offerings” and aims to give US institutions a full-stack solution for digital asset trading.
The platform will also allow institutional clients to cross-margin their OTC spot holdings alongside traditional asset portfolios such as CME futures and options, effectively bridging crypto and traditional markets.
Ripple has pursued an aggressive expansion in 2025, completing the $1 billion acquisition of GTreasury and leading a $1 billion raise to boost XRP reserves and liquidity. CEO Brad Garlinghouse said the company is positioning itself for growth amid a friendlier US regulatory climate and new crypto legislation.
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