Ripple has finalized its acquisition of Hidden Road and has renamed the prime brokerage firm it acquired in April 2025 as Ripple Prime. Summary Ripple has completed the acquisition of prime brokerage firm Hidden Road. The platform has now been renamed to Ripple Prime and will be key to further XRP and Ripple USD adoption. Hidden Road is among the five key acquisitions Ripple has made in the past two years. Ripple’s deal for Hidden Road made headlines across the crypto space, and the announcement that the acquisition is finally sealed has attracted similar commentary from across the market. In April, Ripple announced its plans to acquire the prime brokerage, which offers institutional investors access to digital assets, foreign exchange, derivatives, and fixed income, among other services, for $1.25 billion. “The acquisition is complete, and Hidden Road is now Ripple Prime,” Team Ripple wrote. Finalizing this deal means Ripple is now the first cryptocurrency company to own and operate a global multi-asset prime brokerage. What next for Ripple? Ripple Prime is set to offer access to settlement, custody, trading, and financing to institutional clients and will bring digital assets and traditional finance assets, including FX and derivatives, to customers. Ripple and Hidden Road will continue their integration throughout the coming months. At the same time, Hidden Road founder and chief executive officer Marc Asch will work directly with and alongside the Ripple team, including CEO Brad Garlinghouse. Ripple will use its crypto infrastructure across custody, payments, and stablecoins to bolster the prime brokerage platform. This is also the outlook for XRP (XRP), the company noted. Meanwhile, Ripple Prime will significantly help the adoption trajectory of Ripple USD (RLUSD), the U.S. dollar pegged stablecoin the company launched in late 2024. More acquisitions Hidden Road is one of the many acquisition deals Ripple has announced in the past two years. Recently, the company disclosed it has scooped up treasury management provider GTreasury for $1 billion. In August 2025, it revealed a deal for stablecoin payments platform Rail, while Standard Custody and Metaco were acquired in June 2024 and May 2023, respectively.
