- Ripple’s acquisition of Hidden Road strengthens the new company’s institutional services globally.
- Ripple Prime integrates financing, clearing and brokerage and expands the use of RLUSD and XRP on global financial networks.
Ripple is in one new phase stepped in by completing its purchase of Hidden Road and rebranding it as “Ripple Prime.” This move makes Ripple the first crypto company to own and operate a global multi-asset prime broker and strengthens XRP’s leading role in Ripple’s growing network of institutional partners and financial services.
This deal shows that Ripple is expanding heavily into large brokerage and liquidity services. Ripple Prime connects digital assets, financing and clearing across many markets to serve institutional clients worldwide. Since the initial announcement, Ripple Prime’s business has tripled, proving that more and more people around the world are demanding digital wealth services.
Ripple CEO Brad Garlinghouse said the acquisition demonstrates the company’s long-term goal of building an “Internet of Value.” He explained that XRP is the key digital asset that powers Ripple’s financial system. The acquisition brings Ripple closer to bridging traditional finance with blockchain technology for faster global payments.
With today’s close of Hidden Road (now Ripple Prime), Ripple has announced 5 major acquisitions in ~2 years (GTreasury last week, Rail in August, Standard Custody in 2024, Metaco in 2023). As we continue to build solutions towards enabling an Internet of Value – I’m reminding you… https://t.co/O5Uub7ulw9
— Brad Garlinghouse (@bgarlinghouse) October 24, 2025
Ripple expands its reach by acquiring Hidden Road
This acquisition is Ripple’s fifth major acquisition in two years. Ripple bought Metaco in May 2023, Standard Custody in June 2024, Rail in August 2025 and last week announced the acquisition of GTreasury. Each purchase helped Ripple expand its presence in custody, payments and treasury management.
Ripple Prime combines these existing capabilities with Hidden Road’s institutional services, which include clearing, financing and prime brokerage in foreign exchange, digital assets, swaps and fixed income. This broader platform allows Ripple to serve banks, funds and other financial institutions with integrated access to digital assets at scale.
Ripple and Hidden Road share similar business values and have a strong global presence. Marc Asch, the founder and CEO of Hidden Road, will continue to work with Garlinghouse and Ripple’s leadership team to ensure a smooth transition. Together they want to grow the new company by focusing on technology, risk control and compliance.
RLUSD strengthens Ripple Prime’s foundation
Ripple Prime will expand the reach of Ripple’s stablecoin, RLUSD, which more and more companies are using as collateral for various brokerage products. Some traders already hold RLUSD balances, and as XRP continues to improve its systems, more large investors and institutions are likely to use RLUSD in the next few months.
In July, Bluechip rated RLUSD as the best stablecoin for its strong stability, governance, and asset backing, giving it an “A” grade. Ripple’s partnership with BNY Mellon, which serves as the primary custodian of reserves, creates strong trust among financial institutions that use RLUSD for their operations.
Ripple expects Ripple Prime to promote the use of RLUSD and XRP in global finance. With improved infrastructure and institutional partnerships, Ripple’s ecosystem is poised for strong growth supported by real-world financial adoption and growing trust in its blockchain-based services.
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