Ripple Launches US Spot Prime Brokerage Following $1.25B Acquisition

Ripple has launched a digital asset spot prime brokerage service for US institutional clients. This follows Ripple's $1.25 billion acquisition of Hidden Road, rebranded as Ripple Prime.

The new service enables OTC spot transactions across multiple digital assets.
US clients can cross-margin OTC spot trades with their digital portfolios and access OTC swaps, CME futures, and options.
Ripple Prime combines its regulatory licenses with Hidden Road’s infrastructure, which had previously launched cash-settled OTC digital asset swaps in the US.
The platform competes with services like Coinbase Prime.

Supported Assets

Includes XRP and RLUSD stablecoin.
RLUSD is used by organizations like World Central Kitchen and Water.org for cross-border payments.

Michael Higgins, International CEO of Ripple Prime, highlighted that the launch offers comprehensive trading strategies including foreign exchange, digital assets, derivatives, swaps, and fixed income.