Ripple Completes $1.25 Billion Hidden Road Acquisition, Rebrands to Ripple Prime

Ripple has finalized its acquisition of Hidden Road for $1.25 billion, rebranding the prime brokerage firm as Ripple Prime. This strategic move makes Ripple the first crypto company to own and operate a global, multi-asset prime broker, significantly expanding its institutional offerings across traditional and digital assets. The deal, initially announced in April, aims to integrate Ripple's digital asset infrastructure with comprehensive prime brokerage services.

Michael Arrington, founder of Arrington Capital, lauded the acquisition, stating, "Ripple has made some incredible acquisitions, but Hidden Road may be the best one so far." He further highlighted the strong strategic alignment, adding, "There are incredible synergies between the Hidden Road Business and Ripple's stablecoin, for example." Arrington's hedge fund is now onboarded with the newly formed Ripple Prime, leveraging its tools for their business.

Ripple Prime offers institutional clients a robust suite of services, including clearing, financing, and market access across foreign exchange, derivatives, fixed income, and digital assets. A key integration involves Ripple's RLUSD stablecoin, which is now being utilized as collateral for various prime brokerage products, enhancing its utility and reach within institutional finance. Since the initial acquisition announcement, Ripple Prime's business has reportedly grown threefold.

The acquisition underscores Ripple's aggressive strategy to bridge traditional finance with the digital asset ecosystem. This move follows a series of other acquisitions by Ripple, including GTreasury and Rail, all aimed at deepening its integration into the global financial system. The company anticipates further growth and adoption of its digital asset solutions, leveraging the expanded capabilities of Ripple Prime.