Ripple Prime has secured nominations in four categories at the Hedgeweek US Awards 2026, highlighting its growing profile within the institutional financial sector. The categories include Prime Broker of the Year: Client Service, Prime Broker of the Year: Technology, Prime Broker of the Year: Specialist Markets, and Prime Broker of the Year: Start-up & Emerging Managers. The winners will be determined by public voting, with the awards ceremony scheduled for October 8, 2026, in New York.
Strong nominations in key categories
Ripple Prime’s placement among the nominees brings it into direct competition with prominent banks, trading venues, fund administrators, and technology firms. These traditional financial institutions continue to dominate Hedgeweek’s institutional investment categories, setting a high benchmark for nominations in the space.
Several aspects of Ripple Prime’s business model have contributed to these nominations, including its technology resources, specialized services for niche markets, and its platform for emerging asset management firms. The Specialist Markets nomination is particularly notable, as digital assets are still an evolving segment for institutional investors compared to established markets.
Ripple Prime, through its expanded business model, is now recognized for its capabilities beyond traditional payment solutions—supporting digital asset trading and financial infrastructure for institutional clients.
Ripple Prime’s evolution and institutional expansion
Ripple Prime originated from Ripple’s acquisition of Hidden Road, a global prime brokerage and institutional credit provider, in 2025. The deal, valued at $1.25 billion, marked Ripple’s significant move into institutional finance and expanded its service offerings well beyond payments.
Hidden Road, founded in 2018 by Marc Asch, built a reputation as a specialized provider of prime brokerage services for hedge funds, proprietary trading firms, asset managers, and other institutional investors. After the acquisition, Hidden Road was rebranded as Ripple Prime, forming a dedicated institutional platform within the Ripple ecosystem.
Mini dictionary: Prime brokerage, in finance, refers to a bundled set of services offered by investment banks and other financial institutions to hedge funds and large professional investors. These services typically include trade execution, financing, securities lending, and consolidated reporting.
With this acquisition, Ripple Prime inherited Hidden Road’s institutional infrastructure, designed to support trading and financing across digital assets, foreign exchange, derivatives, and fixed income markets. This allowed Ripple Prime to extend its reach and services to a broader client base within institutional finance.
Ripple’s shift from payments to infrastructure
Ripple has long been known for developing blockchain-based payment solutions and the XRP Ledger (XRPL). Its primary product, Ripple Payments, has helped banks and enterprises facilitate global money transfers using blockchain. However, with the integration of Hidden Road’s business, Ripple has pivoted towards being a comprehensive financial infrastructure provider for institutions, aiming to serve a wider range of financial needs.
The Hedgeweek US Awards nominations reflect a growing recognition of firms focused on digital asset infrastructure, signaling the sector’s evolution as major institutions begin to adopt blockchain technology for more than just cryptocurrency exposure.
Broader industry significance
Ripple Prime’s nominations come at a time when the institutional adoption of blockchain technology is accelerating. More traditional financial players are exploring digital asset markets in response to client demand and technological advancements. The competition and recognition at these awards indicate the increasing mainstream acceptance of digital asset-focused firms in established financial arenas.
Whether or not Ripple Prime takes home any of the four awards, its nominations suggest a significant shift in the industry, with digital asset platforms now recognized alongside traditional financial heavyweights.
| Category | Ripple Prime Status |
|---|---|
| Prime Broker: Client Service | Nominated |
| Prime Broker: Technology | Nominated |
| Prime Broker: Specialist Markets | Nominated |
| Prime Broker: Start-up & Emerging Managers | Nominated |
