tl;dr
Ripple completes a landmark $1.25B acquisition of Hidden Road, rebranding it as Ripple Prime to dominate traditional finance (TradFi) with multi-asset brokerage services, XRP integration, and a $1B Digital Asset Treasury.
**Ripple Completes $1.25 Billion Acquisition of Hidden Road, Rebrands as Ripple Prime to Solidify TradFi Presence**
In a landmark move for the cryptocurrency industry, Ripple has officially completed its $1.25 billion acquisition of Hidden Road, a leading non-bank prime broker, rebranding the entity as **Ripple Prime**. This transaction marks Ripple as the first cryptocurrency firm to own a global multi-asset prime brokerage, signaling a significant step toward integrating digital assets into traditional finance (TradFi).
### A Strategic Expansion into Institutional Markets
The acquisition, first announced in April, underscores Ripple’s ambition to embed its technology and products into institutional operations. Ripple Prime will now offer a suite of services including clearing, financing, and market access across foreign exchange, derivatives, fixed income, and digital assets. This expansion positions Ripple to cater to institutional clients seeking seamless access to both traditional and digital financial markets.
A key component of the deal is the integration of Ripple’s digital asset ecosystem, including the **XRP Ledger (XRPL)** and the **RLUSD stablecoin**, into Ripple Prime’s prime brokerage services. RLUSD is already being used as collateral for derivatives products, with expectations of broader adoption as the platform scales.
In a statement, Ripple highlighted the synergies between its infrastructure and Hidden Road’s operations: *“Ripple’s foundational digital asset infrastructure across payments, crypto custody, and stablecoin, as well as the use of XRP, will complement the services offered within Ripple Prime.”*
### Ripple’s Acquisition Streak Accelerates TradFi Integration
This deal is part of a broader strategy of aggressive acquisitions to strengthen Ripple’s foothold in traditional finance. Last week, Ripple acquired **GTreasury**, a corporate treasury management firm, for $1 billion. This move aims to deepen Ripple’s integration into the U.S. banking system and enhance its offerings for institutional clients.
In August, Ripple also agreed to purchase **Rail**, a Toronto-based payments platform, for $200 million. Rail specializes in stablecoin infrastructure and cross-border transaction technology. While the deal is pending regulatory approval, it is expected to close in Q4 2025, further expanding Ripple’s payments and stablecoin ecosystem.
### Building a Digital Asset Treasury
Beyond acquisitions, Ripple is pursuing a $1 billion fundraising round to establish a **Digital Asset Treasury (DAT)** centered around its native XRP token. If confirmed, the DAT would provide Ripple with greater control over XRP liquidity and treasury resources, potentially supporting future institutional operations, including Ripple Prime.
### A New Era for Ripple in Traditional Finance
By acquiring Hidden Road and rebranding it as Ripple Prime, the company is not only reinforcing its technological capabilities but also aligning itself with the evolving demands of institutional investors. The integration of digital assets into prime brokerage services represents a pivotal shift, bridging the gap between crypto and traditional finance.
As Ripple continues to expand its footprint through strategic acquisitions and innovative financial tools, the cryptocurrency sector watches closely to see how this move will shape the future of global finance. With Ripple Prime, the company is no longer just a player in the crypto space—it’s a key architect of the next generation of financial infrastructure.