Ripple has officially launched its digital asset spot prime brokerage platform, Ripple Prime, in the United States on November 3, 2025, marking a significant expansion into the institutional financial services sector. This rollout follows Ripple's recent acquisition of the multi-asset prime brokerage firm Hidden Road, which was finalized in October, and positions Ripple as the first crypto company to fully own and operate a global, multi-asset prime broker.
The new platform enables U.S.-based institutional clients, including hedge funds, banks, and asset managers, to execute over-the-counter (OTC) spot transactions across a range of digital assets, with a focus on XRP and Ripple's stablecoin Ripple USD (RLUSD). Since the acquisition announcement earlier this year, Ripple Prime's business activity has tripled, highlighting strong institutional demand for compliant, high-liquidity crypto trading infrastructure. The offering integrates services such as execution, settlement, and risk management, and includes access to OTC swaps, CME futures, and options, leveraging Ripple's licenses and Hidden Road's solutions.
In a statement, Michael Higgins, International CEO of Ripple Prime, emphasized that "the launch of OTC spot execution capabilities complements our existing suite of OTC and cleared derivatives services in digital assets and positions us to provide U.S. institutions with a comprehensive offering to suit their trading strategies and needs." This move is part of Ripple's broader strategy to drive mainstream institutional adoption of blockchain-based financial instruments, expanding the utility of XRP and RLUSD amid improving regulatory environments.
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