what's Hidden Road?
Hidden Road is a global credit network designed for institutional clients, providing prime brokerage, clearing, and financing services across both traditional and digital assets. It enables seamless access to credit through quantitative-driven technology, supporting trading in foreign exchange, derivatives, swaps, fixed income, and cryptocurrencies. The platform integrates with major exchanges like Coinbase, OKX, and Deribit, and accepts collateral such as BlackRock's BUIDL token. Following its acquisition by Ripple in 2025 for $1.25 billion, Hidden Road has expanded its offerings, including U.S. digital asset swaps prime brokerage and OTC options support. It clears over $3 trillion annually for more than 300 institutional clients, including hedge funds like Jump Trading and Jane Street, bridging traditional finance with blockchain infrastructure for efficient settlement and liquidity management.
Ripple Prime (Hidden Road) adds Hyperliquid as its first DeFi venue integration.
Links
x.com/hiddenroadRipple Prime (formed after Ripple's acquisition of Hidden Road) adds Hyperliquid as its first DeFi venue integration.
Transaction volume for Ripple Prime tripled following the Hidden Road acquisition.
The platform launched from the acquisition enables institutional OTC trading for XRP and RLUSD with CME cross-margin capabilities.
The acquisition value exceeded $1.1B, placing it among the largest acquisitions in cryptocurrency history.
Ripple completes its acquisition of Hidden Road, launching Ripple Prime as a global, multi-asset prime broker for institutional customers.
Ripple announces $1B acquisition of GTreasury to break into the $120T corporate treasury payments market, enabling management of stablecoins and tokenized deposits at scale while utilizing Hidden Road's repo market services for idle capital.
Ripple acquires Hidden Road to expand stablecoin capabilities.
Firm removed from EU's MiCA interim register, potentially impacting European operations.
Secures $1.25B funding from Ripple for institutional credit services.
Ripple acquires prime broker for $1.25 billion, expanding institutional services.
Major acquisition: Ripple purchases prime broker for $1.25B
$1.25B acquisition by Ripple includes integration of $300M RLUSD stablecoin across prime brokerage services.
Prime broker acquisition deal valued at $1.25 billion marks largest M&A in digital asset industry.