Ripple launches digital asset prime brokerage for US markets following $1.25 billion Hidden Road deal
Quick Take Ripple has announced a digital asset spot prime brokerage in the U.S., offering OTC trading for XRP, RLUSD, and other tokens. The launch follows Ripple’s $1.25 billion acquisition of Hidden Road, merging licenses and infrastructure under Ripple Prime.
Ripple has launched a new digital asset spot prime brokerage platform for the U.S. market, expanding its institutional services to include over-the-counter (OTC) spot trading across dozens of major cryptocurrencies, including XRP and its own RLUSD stablecoin.
The rollout marks one of the first U.S. expansions of Ripple Prime, following the firm's $1.25 billion acquisition of multi-asset broker Hidden Road. The deal was initially disclosed in April and finalized last month. Ripple has since merged its licenses and technology with Hidden Road's infrastructure to provide a unified clearing, financing, and execution platform for digital assets, foreign exchange, derivatives, and fixed income.
"The launch of OTC spot execution capabilities complements our existing suite of OTC and cleared derivatives services in digital assets," Michael Higgins, International CEO of Ripple Prime, stated in Monday's press release .
U.S.-based institutional clients can now cross-margin OTC spot transactions and holdings with their broader blockchain asset portfolios, including CME futures and options. The move would effectively bridge the traditional and crypto markets under a single operational umbrella.
Ripple has been on an acquisition and expansion spree throughout 2025. In addition to Hidden Road, the company recently acquired GTreasury in a $1 billion deal described by CEO Brad Garlinghouse as a "watershed moment for corporate treasury management." The acquisition gives Ripple deep access to enterprise clients using its blockchain-based payment and liquidity tools.
Ripple also led a $1 billion raise to expand its XRP treasury reserves, part of its effort to support ecosystem liquidity and onchain payments capacity. At the same time, Garlinghouse has signaled that the company sees the U.S. regulatory climate improving under the Trump administration. Policymakers have already passed a stablecoin bill in President Trump’s first year, and work on a crypto market structure bill is underway.
In other Ripple-related news, Ripple has remained politically active, joining Coinbase and other crypto heavyweights in recent months as donors to the Trump administration’s new White House ballroom fund.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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