Ripple Prime Expands Crypto Company's Financial-Infrastructure Ambitions

Ripple's acquisition of Hidden Road for $1.25 billion in October 2025 has led to the creation of Ripple Prime, a global multi-asset prime brokerage business.

The move makes Ripple the first crypto company to own and operate a prime broker, providing institutions with access to multiple markets while using centralized credit and clearing infrastructure.

Ripple's expansion into prime brokerage addresses a problem that has become increasingly apparent as institutional participation in digital assets has grown: the need for a consolidated platform that can manage execution, financing, collateral, and settlement without requiring institutions to maintain separate relationships with each trading venue.

The company's multi-asset structure is significant, allowing clients to operate across traditional and digital assets without treating them as isolated markets.