Ripple has officially launched a digital asset spot prime brokerage for the U.S. market, marking a major step in its 2025 expansion strategy. The new platform, part of the company’s growing Ripple Prime division, enables institutional investors to conduct over-the-counter (OTC) spot trading across dozens of cryptocurrencies — including Ripple’s own RLUSD stablecoin.
The launch follows Ripple’s $1.25 billion acquisition of multi-asset broker Hidden Road, a deal finalized last month after being disclosed earlier this year. By integrating Hidden Road’s licenses and infrastructure, Ripple has built a unified platform offering clearing, financing, and execution services across digital assets, foreign exchange, derivatives, and fixed-income products.
Michael Higgins, International CEO of Ripple Prime, said the new service broadens the firm’s institutional reach.
“The launch of OTC spot execution capabilities complements our existing suite of OTC and cleared derivatives services in digital assets,” he noted in a statement.
The U.S. rollout allows institutional clients to cross-margin OTC spot positions alongside their broader blockchain and traditional asset portfolios, including CME futures and options. This integration effectively bridges the gap between conventional finance and digital asset markets — a goal Ripple has pursued through its series of high-profile acquisitions.
Earlier this year, Ripple also acquired GTreasury in a $1 billion deal, which CEO Brad Garlinghouse described as a “watershed moment for corporate treasury management.” The acquisition brings Ripple deeper into enterprise finance, providing large companies with blockchain-based payment and liquidity solutions.
Ripple’s rapid expansion has been accompanied by strategic capital moves. The company recently led a $1 billion raise to bolster its XRP reserves and enhance onchain liquidity. At the same time, Garlinghouse has expressed optimism about the shifting U.S. regulatory landscape, citing progress under the Trump administration — including the passage of a stablecoin bill and ongoing work on broader crypto market structure legislation.
Beyond business, Ripple has also been active in Washington, joining other major crypto firms such as Coinbase in supporting industry engagement with policymakers through various initiatives.
