Ripple Prime, the prime brokerage arm of Ripple (formerly Hidden Road), has been shortlisted for multiple ‘Prime Broker of the Year’ recognitions at the Hedge Week US Awards 2026. The nominations came in four categories: Client Service, Specialist Markets, Start-up & Emerging Managers, and Technology. CEO Mike Higgins announced the news on X, thanking clients and partners and encouraging community voting.
Revenue has more than tripled since Ripple acquired Hidden Road in April 2025. The firm now clears over $3 trillion annually for more than 300 institutional clients. Higgins attributed the growth to Ripple USD (RLUSD) enabling 24/7 collateral movement, a horizontal clearing infrastructure, and cross-margining that can slash a $12.5 million margin requirement to about $1 million.
In Q2 2026, Ripple Prime integrated with EDX Markets, Coinbase Derivatives, Hyperliquid, and Bullish, and secured a $200 million debt facility from Neuberger Berman. The client base is shifting from crypto-native firms to include hedge funds, asset managers, pensions, and endowments, helped by regulatory clarity from the GENIUS Act and the pending CLARITY Act. Near-term plans include tokenized money market fund collateral and a ‘Delta One’ equities business, with a long-term focus on industry standardization.
