SAN FRANCISCO, 25 October 2025 – Ripple has become the first crypto firm to own and run a global multi-asset prime brokerage, following its completed US$1.25 billion purchase of Hidden Road.
Hidden Road is a technology-driven non-bank prime brokerage, clearing and financing for traditional and digital assets. As the global credit network for over 300 institutional clients, it covers digital assets, foreign exchange, swaps, derivatives and fixed income.
Ripple has since rebranded Hidden Road to Ripple Prime. Since the acquisition announcement made in April 2025, Ripple Prime’s business growth has tripled.
This strategic purchase allows Ripple to integrate prime brokerage facilities in its ecosystem, streamlining the processes to tokenise, exchange, store, and transfer digital assets. It can leverage Ripple Prime’s custody and regulatory compliance capabilities.
The company now offers a full-service platform with the trading access and risk management standards of prime brokers.
Ripple aims to give its digital assets, including XRP and RLUSD, the same credibility as stocks and bonds. The company plans to settle US$3 trillion in Ripple Prime’s annual transactions through the XRP Ledger.
This acquisition highlights the growing role of crypto in professional finance. By bringing prime broker services into the ecosystem, it provides the infrastructure and credibility needed for institutional adoption of digital assets.
Ripple will continue pursuing opportunities that close the gap between traditional finance and decentralised finance.
