Ripple has officially finalized its acquisition of prime brokerage firm Hidden Road, rebranding it as Ripple Prime—a strategic move that cements Ripple’s position as the first cryptocurrency company to own and operate a global multi-asset prime brokerage platform.
The $1.25 billion deal, initially announced in April 2025, has been closely followed across the digital asset and institutional finance sectors. With the acquisition now complete, Ripple Prime will serve as a key bridge between traditional finance (TradFi) and digital asset markets, offering institutional clients access to trading, settlement, custody, and financing services across asset classes including FX, derivatives, and fixed income.
In a post confirming the development, Ripple stated: “The acquisition is complete, and Hidden Road is now Ripple Prime.”
A new chapter for Ripple’s institutional strategy
Ripple Prime is designed to deepen institutional access to the digital economy, integrating Ripple’s robust infrastructure in custody, payments, and stablecoin solutions. The company said this integration will enhance the performance and scalability of the prime brokerage platform while driving further adoption of its XRP token and Ripple USD (RLUSD)—the dollar-pegged stablecoin launched in late 2024.
As part of the transition, Hidden Road founder and CEO Marc Asch will continue to collaborate with the Ripple leadership team, including Ripple CEO Brad Garlinghouse, to oversee integration and strategic expansion in the months ahead.
Ripple’s acquisition spree continues
The Hidden Road deal is the latest in a string of high-profile acquisitions that highlight Ripple’s aggressive growth strategy in institutional finance and crypto infrastructure. Over the past two years, Ripple has announced several strategic takeovers, including treasury management provider GTreasury for $1 billion, stablecoin payments platform Rail in August 2025, Standard Custody in June 2024, and Metaco in May 2023.
These acquisitions collectively position Ripple as a dominant force in bridging blockchain technology with global financial markets. As Ripple Prime begins operations, the firm aims to redefine institutional access to multi-asset liquidity and strengthen the role of blockchain in cross-market financial infrastructure.
