Ripple Finalizes Hidden Road Acquisition, Launches Ripple Prime to Expand Institutional Reach

Ripple has officially completed its $1.25 billion acquisition of Hidden Road, marking a major milestone as it becomes the first cryptocurrency company to own a global multi-asset prime broker. Following the acquisition, Hidden Road will rebrand and operate as Ripple Prime, integrating Ripple’s blockchain technology and digital asset ecosystem into its prime brokerage services.

This strategic move cements Ripple’s growing influence in traditional finance, enhancing its institutional offerings in markets including foreign exchange, derivatives, fixed income, and digital assets. Ripple Prime’s clients will now gain direct access to the XRP Ledger (XRPL) and RLUSD stablecoin, both of which will play key roles in the firm’s clearing, financing, and collateral operations. According to Ripple, RLUSD is already being utilized as collateral for derivatives products, with wider adoption anticipated in the near future.

In an official statement, Ripple highlighted the acquisition’s synergy, noting that combining its robust digital asset infrastructure with Ripple Prime’s multi-asset services will accelerate institutional adoption of crypto solutions. This merger also demonstrates Ripple’s intent to deepen its integration into the global financial system by bridging the gap between blockchain technology and traditional finance.

The acquisition of Hidden Road is the latest in Ripple’s aggressive expansion streak. Just last week, the company acquired GTreasury, a corporate treasury management platform, for $1 billion, further embedding itself within U.S. financial infrastructure. Earlier this year, Ripple also announced a pending $200 million acquisition of Rail, a Canadian payments firm specializing in stablecoin and cross-border transaction technology, expected to finalize in late 2025.

Ripple’s ongoing growth strategy aligns with reports of a planned $1 billion fundraising round to establish an XRP-based digital asset treasury (DAT)—a move that would strengthen its liquidity management and institutional capabilities.