Ripple Completes $1.25 Billion Acquisition of Prime Broker Hidden Road

Ripple finalizes acquisition of Hidden Road, rebrands as Ripple Prime.

The company Ripple has finalized its acquisition of the non-bank prime broker Hidden Road, rebranding it as Ripple Prime.

Introducing Ripple Prime: We’re pleased to share that our acquisition of Hidden Road is officially complete, making Ripple the first crypto company to own and operate a global, multi-asset prime broker – bringing the promise of digital assets to institutional customers at scale.…

— Ripple (@Ripple) October 24, 2025

According to the statement, Ripple has become the first firm in the crypto industry to own and operate a multi-asset prime broker, offering institutional investors a comprehensive approach to trading digital assets. The platform’s services include clearing, brokerage, and trade financing across foreign exchange, derivatives, cryptocurrencies, and fixed-income instruments.

Since announcing the $1.25 billion purchase of Hidden Road in April, the platform’s business has tripled, the fintech firm stated.

The company anticipates that Ripple Prime will significantly expand the use of the stablecoin RLUSD by employing it as collateral for various brokerage products. Some clients dealing with derivatives have already transitioned to holding balances in the “stablecoin.” The firm expects this figure to grow in the coming months.

Ripple’s core infrastructure, encompassing payments, cryptocurrency custody, and the use of the XRP token, is expected to complement the services offered by the prime broker. Ripple Prime aims to leverage blockchain capabilities in its operations to optimize processes and costs.

This acquisition marks Ripple’s fifth major purchase in the past two years, including the acquisitions of crypto custodians Metaco and Standard Custody, the stablecoin platform Rail, and the treasury company GTreasury.

The price of XRP has increased by more than 4% in the past 24 hours, showing the best performance among the top 10 cryptocurrencies by market capitalization. The token is trading at $2.55.

The market supply of RLUSD has exceeded $900 million. The coin ranks 15th in the stablecoin segment with a total volume of over $300 billion.

Back in August, Ripple expanded its partnership with SBI Holdings to promote RLUSD in Japan.