Ripple has taken a definitive step into the world of high finance with the launch of its digital asset prime brokerage, Ripple Prime, for U.S. institutional clients. This move, announced on November 3, 2025, marks a significant expansion of its services and is poised to reshape the institutional landscape for its digital assets, XRP and RLUSD.
A New Gateway for Institutional Trading
Ripple Prime represents a major advancement in Ripple’s strategy to bridge traditional finance with the digital asset space. The platform offers U.S.-based institutions access to over-the-counter (OTC) spot trading for a range of major cryptocurrencies, with a clear focus on its native assets, XRP and the RLUSD stablecoin. This service allows large players to execute substantial trades away from public order books, minimizing market impact and price slippage.
The launch is a direct result of Ripple’s strategic acquisition of the multi-asset prime broker Hidden Road, a deal finalized in October 2025 for $1.25 billion. By integrating Hidden Road’s established infrastructure and regulatory licenses, Ripple Prime can now offer a comprehensive suite that goes beyond simple spot trading. A key feature for institutional clients is the ability to cross-margin their OTC spot positions with other products like swaps and CME-listed futures and options, providing greater capital efficiency and flexibility in managing complex portfolios.
Strategic Implications for the Ecosystem
The introduction of Ripple Prime is more than just a new product; it’s a strategic shift that strengthens Ripple’s entire ecosystem. The platform is designed to work in tandem with Ripple’s other services, such as Ripple Payments for cross-border transactions and Ripple Custody for secure asset storage, creating an integrated offering for institutions. This infrastructure is built to meet the stringent regulatory and compliance requirements of the U.S. market, a critical factor for attracting serious institutional capital.
This development has also cast a spotlight on Ripple’s stablecoin, RLUSD, which recently surpassed $1 billion in market capitalization. Its integration into Ripple Prime as a primary trading and settlement asset signals growing institutional demand and could further cement its role within the broader digital finance ecosystem. As noted by Michael Higgins, International CEO of Ripple Prime, this launch provides U.S. institutions with “a comprehensive offering to suit their trading needs”, positioning Ripple as a direct competitor to established institutional players like Coinbase Prime and Anchorage Digital.
