Ripple launches crypto spot prime brokerage services
04.11.2025
10906
As Ripple's Swell conference kicked off in New York this week, the company announced an expansion of OTC services following its October acquisition of a prime broker.
Ripple launches crypto spot prime brokerage services
Blockchain payments company Ripple just dropped a major expansion - they're rolling out digital asset spot prime brokerage for US markets. This comes about seven months after they first announced plans to acquire Hidden Road.
In a Monday announcement, Ripple said their US-based institutional clients can now execute over-the-counter (OTC) spot transactions across multiple cryptocurrencies. This launch follows Ripple's acquisition of crypto-friendly prime broker Hidden Road as part of a $1.25 billion deal disclosed in April and finalized in October.
"The launch of OTC spot execution capabilities complements our existing suite of OTC and cleared derivatives services in digital assets and positions us to provide US institutions with a comprehensive offering to suit their trading strategies and needs," said Michael Higgins, international CEO of Ripple Prime and former Hidden Road executive.
With the Hidden Road acquisition, Ripple can now act as a multi-asset prime broker for crypto traders, offering cross-margin OTC spot transactions and holdings, plus OTC swaps and CME futures and options. This expansion dropped just as Ripple prepared to host its annual Swell conference in New York City.
According to data from Nansen, the price of XRP has fallen by about 5% over the last 24 hours, from $2.50 to $2.37 at the time of publication.
Ripple still a player in US politics, policy
Some Ripple executives, including CEO Brad Garlinghouse, have developed close ties to the current White House.
In October, a Ripple representative attended a White House fundraising event for a 90,000-square-foot ballroom proposed by US President Donald Trump in July. The project, now estimated to cost $350 million according to Trump, resulted in the demolition of the White House's historic East Wing.
The company has also backed the political action committee (PAC) Fairshake, likely at least partially responsible for helping elect dozens of candidates it considered favorable to crypto policies in the 2024 US elections.
#Ripple#XRP#Institutional interest in crypto#Cryptotrading#Prime brokerage
Got a topic? Write to ATLA WIRE on Telegram:t.me/atla_community
