Ripple has launched digital asset spot prime brokerage services for U.S.-based institutional clients, marking a significant expansion of its trading and financial infrastructure. The move follows Ripple’s acquisition of Hidden Road, a multi-asset prime brokerage platform, earlier this year.
Operating under the new brand Ripple Prime, the platform will now allow clients to execute over-the-counter (OTC) spot transactions across dozens of leading digital assets, including XRP and Ripple’s stablecoin RLUSD.
The launch extends Ripple’s existing OTC derivatives and clearing services, providing a fully integrated suite for institutional investors seeking exposure to crypto markets under regulated conditions.
According to Ripple Prime’s International CEO Michael Higgins, the addition of OTC spot execution capabilities complements the company’s broader trading infrastructure. “It positions us to provide U.S. institutions with a comprehensive offering to suit their trading strategies and needs,” Higgins said in the announcement.
Institutional Expansion and Integration
Ripple Prime now supports a wide range of product types – including FX, derivatives, swaps, and fixed income – giving institutions unified access to digital and traditional financial instruments. The platform also enables cross-margining between OTC spot holdings and derivatives positions, allowing clients to manage exposure more efficiently across asset classes.
The acquisition of Hidden Road in October 2025 played a pivotal role in enabling Ripple’s expansion into prime brokerage. By integrating Hidden Road’s technology and licenses, Ripple has positioned itself to bridge the gap between digital assets and institutional finance, strengthening its role as a full-service provider for global markets.
Ripple continues to broaden its suite of institutional offerings, which includes Ripple Payments for cross-border settlements and Ripple Custody for secure digital asset storage. Through Ripple Prime, the company now provides U.S. clients with access to a multi-asset prime brokerage platform, reflecting the increasing convergence between crypto markets and traditional finance.