Ripple Makes History as the First Cryptocurrency Firm to Launch a Global Multi-Asset Prime Brokerage

Ripple has secured its status as a pioneering force in the cryptocurrency industry by officially launching Ripple Prime, the first global multi-asset prime brokerage owned and operated by a digital currency company. This landmark development marks Ripple's strategic expansion into institutional services, enhancing its capabilities and offerings in the financial sector.

On October 24, 2025, Ripple announced the completion of its acquisition of Hidden Road, a renowned global non-bank prime brokerage specializing in servicing institutional clients. With the acquisition, Ripple has rebranded the business under the name "Ripple Prime," signifying its ambitious push toward becoming a dominant player in institutional finance.

Leveraging Blockchain Technologies for Prime Brokerage Innovation

Ripple Prime represents a bold step into a lucrative market traditionally dominated by legacy financial institutions. Monica Long, Ripple's President, expressed her optimism for the future of the platform, citing the potential of Ripple's innovative technologies, such as its XRP cryptocurrency and RLUSD stablecoin, to redefine the prime brokerage landscape.

"The opportunities now available to Ripple Prime (fka Hidden Road) are expansive. With $RLUSD already being used as collateral for a number of prime brokerage products and Ripple Prime looking at a variety of ways to utilize XRP, the future ahead is mighty bright,"
Monica Long shared on X (formerly Twitter).

This move positions Ripple to deliver cutting-edge solutions for institutional clients while continuing to solidify the utility of its digital assets, enhancing the adoption of XRP and RLUSD.

Unprecedented Growth Following Ripple's Expansion into Institutional Services

Ripple’s acquisition strategy has already yielded startling results. Since the initial announcement of the Hidden Road acquisition, Ripple Prime has reported a threefold growth in its business. This substantial expansion highlights the increasing demand for Ripple’s institutional offerings and the scalability of its services to support both new and existing clients.

By entering the multi-asset prime brokerage space, Ripple is broadening its influence across diverse asset classes. Ripple Prime provides institutional clients with access to foreign exchange (FX), digital assets, derivatives, swaps, and bonds, alongside critical financial services such as clearing, financing, and traditional prime brokerage.

Seamless Integration with Ripple’s Advanced Financial Infrastructure

Ripple Prime exemplifies a well-integrated solution that leverages Ripple’s existing financial ecosystem. The company plans to infuse its crypto custody services, XRP-based products, and RLUSD stablecoin into Ripple Prime’s operations to establish a streamlined and highly efficient platform. Blockchain technology will be incorporated to simplify operational complexities, optimize costs, and enhance transparency through automation.

The integration ensures that institutional clients benefit from Ripple's cutting-edge tools, creating a unified platform that stands out in an increasingly competitive financial services landscape.

The Growing Utility of RLUSD: Ripple’s Proprietary Stablecoin

Key to Ripple Prime’s growth strategy is the maximization of RLUSD's utility. This stablecoin has already gained traction among institutional clients, who are utilizing it as collateral in a growing number of prime brokerage products. Ripple revealed that derivatives clients are also increasingly holding their balances in RLUSD, a trend it anticipates will accelerate in the near future.

RLUSD is widely regarded as a reliable and secure financial instrument. It has earned institutional credibility through its adherence to robust regulatory standards and was awarded an "A" rating by Bluechip in July for its security, governance, and asset collateralization. Ripple further strengthened RLUSD’s appeal by partnering with BNY Mellon, which serves as its primary reserve custodian—offering unmatched reliability and assurance to institutional users.

Merger and Acquisition Fueled Growth Strategy

The acquisition of Hidden Road is not an isolated move but rather a critical part of Ripple's aggressive merger and acquisition (M&A) strategy. Over the past two years, Ripple has executed a series of key acquisitions aimed at establishing a comprehensive institutional service suite.

In May 2023, Ripple purchased Metaco, a leading cryptocurrency custody firm, followed by its acquisition of Standard Custody in June 2024 to bolster secure asset storage capabilities. The August 2025 acquisition of Rail added stablecoin payment solutions to Ripple’s portfolio, while last week’s purchase of GTreasury expanded Ripple's treasury management capabilities.

The acquisition of Hidden Road completes this institutional “full-stack” offering by adding multi-asset prime brokerage to Ripple’s integrated platform. Ripple Prime is now positioned to serve institutional clients with an all-encompassing suite of services, including payments, custody, treasury management, stablecoins, and prime brokerage.

Leadership and Future Prospects

Marc Asch, the founder and former CEO of Hidden Road, will take on a pivotal role within Ripple’s leadership team. Working closely with Ripple CEO Brad Garlinghouse and the executive team, Asch will oversee the growth and integration of Ripple Prime into Ripple's broader ecosystem.

Ripple’s bold expansion strategy cements its position as a trailblazer at the intersection of institutional finance and digital assets. By streamlining critical financial services and leveraging advanced blockchain solutions, Ripple is redefining the role cryptocurrency firms play in the global financial ecosystem. The launch of Ripple Prime signifies not just a milestone for Ripple but a shift in the financial industry, as traditional and digital finance continue to converge.