Ripple officially completed its Hidden Road acquisition, becoming the first crypto firm to own a global multi-asset prime broker.
The $1.25 billion deal will embed Ripple’s technology and products into institutional operations, further strengthening its presence in traditional finance.
SponsoredHidden Road Rebrands Under Ripple Prime
Ripple announced today the completion of its acquisition of one of the world’s fastest-growing non-bank prime brokers. As part of this move, Hidden Road will now operate under the name Ripple Prime.
The news confirms Ripple’s takeover of a global, multi-asset prime brokerage, solidifying plans the company first set in motion in April. The new entity will offer institutional clients services such as clearing, financing, and access to markets spanning foreign exchange, derivatives, fixed income, and digital assets.
Ripple Prime’s clients will now gain access to Ripple’s digital asset ecosystem, including the XRP Ledger (XRPL) and the RLUSD stablecoin.
Both are being integrated into the company’s prime brokerage services. Ripple says RLUSD is already used as collateral for derivatives products, with adoption expected to increase.
Sponsored“The synergies between the two businesses made this acquisition a logical next step to support institutional adoption of digital assets. Ripple’s foundational digital asset infrastructure across payments, crypto custody and stablecoin, as well as the use of XRP, will complement the services offered within Ripple Prime,” read the official press release.
The move is the latest in a series of acquisitions Ripple has made recently.
Ripple Continues Acquisition Streak
Last week, Ripple spent $1 billion to purchase GTreasury, a corporate treasury management firm. The move reinforces the company’s ambition to deepen its integration into the US banking and financial system.
It also marked Ripple’s third major acquisition this year, each aimed at expanding the company’s access to traditional finance (TradFi) infrastructure.
In August, Ripple also agreed to acquire Rail for $200 million. The Toronto-based payments platform specializes in stablecoin infrastructure and cross-border transaction technology.
The deal is still pending regulatory approval and is expected to close in the fourth quarter of 2025. Once finalized, it will merge Rail’s technology infrastructure with Ripple’s existing payments and stablecoin ecosystem.
Ripple has also taken separate measures to integrate into a broader institutional expansion strategy. Last week, the firm reportedly announced plans for a $1 billion fundraising round to build a digital asset treasury (DAT) of its native XRP token.
The DAT plan, if confirmed, would give Ripple greater control over XRP liquidity and treasury resources, which could support future institutional operations, including Ripple Prime.
