Ripple Launches Ripple Prime After Acquiring Hidden Road
- Ripple has acquired global prime broker Hidden Road for $1.25 billion, rebranding it as Ripple Prime.
- The new unit serves over 300 institutional customers and has cleared more than $3 trillion across markets.
- Ripple Prime offers services in digital assets, foreign exchange, derivatives, and more, with SOC 2 Type II compliance.
- The launch aims to enhance the role of RLUSD, Ripple’s U.S. dollar stablecoin, which some clients already use as collateral.
- Ripple’s CEO stated that this acquisition positions the company at a pivotal moment for digital asset adoption.
The establishment of Ripple Prime marks a significant expansion into institutional trading and financing services for Ripple, aiming to streamline operations for clients by providing a one-stop solution for market access and risk management.
With over $3 trillion cleared and a growing client base, Ripple Prime is set to compete with traditional prime brokers in both crypto and FX markets.(Source)
