Ripple Acquires Hidden Road, Rebrands as Ripple Prime in $1.25 Billion Deal

Ripple Completes Hidden Road Acquisition

Ripple has officially finalized the acquisition of Hidden Road, a global multi-asset prime broker, for $1.25 billion. This strategic move positions Ripple as the first cryptocurrency company to own such a brokerage, integrating its technology into the operations of institutional clients.

Rebranding as Ripple Prime

With the acquisition complete, Hidden Road will now operate under the name Ripple Prime. This transition underscores Ripple's commitment to expanding its footprint in traditional finance. The newly branded Ripple Prime will offer institutional services, including clearing, financing, and market access across foreign exchange, derivatives, fixed income, and digital assets.

Ripple Prime’s clientele will benefit from the integration of Ripple's digital asset ecosystem, notably the XRP Ledger (XRPL) and the RLUSD stablecoin. These assets will be incorporated into the company's prime brokerage offerings, with RLUSD already serving as collateral for derivatives.

"The synergies between the two businesses made this acquisition a logical next step to support institutional adoption of digital assets," stated Ripple's official press release. The merger aims to enhance Ripple's foundational digital asset infrastructure, complementing services within Ripple Prime.

Ripple’s Acquisition Strategy

This acquisition is part of Ripple's broader strategy to deepen integration into traditional financial systems. Recently, Ripple acquired GTreasury, a corporate treasury management firm, for $1 billion. Earlier this year, Ripple agreed to acquire Rail, a Toronto-based payments platform, specializing in stablecoin and cross-border transactions for $200 million. This pending acquisition is anticipated to close by the end of 2025, merging Rail's technology with Ripple's ecosystem.

In a separate move, Ripple announced plans for a $1 billion fundraising round aimed at building a digital asset treasury (DAT) of its native XRP token, potentially enhancing XRP liquidity for future institutional operations, including those of Ripple Prime.