What is Ripple Prime (ex. Hidden Road)?

Ripple Prime is Ripple’s institutional multi-asset prime brokerage platform, built on the foundation of Hidden Road—a prime brokerage acquired for $1.25 billion—and has become the world’s first global prime brokerage wholly owned by a crypto company. It provides institutions with unified access to clearing, brokerage, and financing services across a wide range of instruments: digital assets, FX, precious metals, derivatives, OTC swaps, and fixed income, with the ability to cross-margin portfolios. The platform is designed to serve as a “bridge” between traditional and on-chain markets: Ripple Prime enables institutional clients to trade both centralized exchange and over-the-counter products as well as DeFi liquidity (for example, through Hyperliquid integration) within a unified risk management and capital-efficient margin system.