Overview
- Ripple rebranded Hidden Road as Ripple Prime, creating what the company and multiple reports call the first crypto-owned global multi-asset prime brokerage.
- Services span clearing, financing and market access across digital assets, foreign exchange, derivatives, swaps and fixed income for institutional clients.
- Company-reported metrics show activity has tripled since April’s announcement, with more than 300 clients and over $3 trillion cleared across markets.
- Ripple says its RLUSD stablecoin is already used as collateral by some customers, with BNY Mellon named as the stablecoin’s primary reserve custodian.
- Integration is underway as founder Marc Asch works with Ripple leadership, part of a broader roll-up that includes Metaco, Standard Custody, Rail and GTreasury.