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Stablecoin issuer and cross-border payment platform Ripple has completed its acquisition of Hidden Road to launch Ripple Prime, the first global multi-asset prime broker owned by a crypto company.  According to the company’s press statement published Friday, Ripple first announced its plan to acquire the global credit network in early April. The firm believes Hidden Road is one of the fastest-growing non-bank prime brokers serving institutional investors in foreign exchange, digital assets, derivatives, swaps, and fixed income markets.  The acquisition was reportedly finalized this month, making Hidden Road officially part of Ripple’s ecosystem under the new name Ripple Prime. Ripple opens new brokerage chapter with Hidden Road acquisition Ripple said the transaction is a “new chapter” for the company as it extends its reach beyond payments into institutional brokerage and clearing services. According to Ripple, Ripple Prime’s business has tripled in size since the deal was first announced.  The XRP parent company’s infrastructure, including its payments network, crypto custody capabilities, and RLUSD stablecoin, will now be embedded into services offered through Ripple Prime. Moreover, the firm plans to use blockchain technology within its prime brokerage operations to streamline processes, improve transparency, and reduce costs for institutional users.  Ripple’s stablecoin RLUSD is already being used as collateral for several prime brokerage products under Ripple Prime. Certain derivatives clients have also opted to hold their balances in RLUSD, and the firm expects more entities to pick up on the trend in the coming months. Hidden Road Founder and CEO Marc Asch will be working alongside Ripple CEO Brad Garlinghouse and the company’s executive team throughout the integration process.  “We are at an inflection point for the next phase of digital asset adoption,” Garlinghouse said when the deal was first announced. “The US market is effectively open for the first time due to…

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Filed under: News - @ October 25, 2025 6:22 am