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Ripple 
$2, traditionally recognized as a stablecoin issuer and cross-border payment platform, is making an ambitious leap in the financial world. The company has officially launched “Ripple Prime,” the first multi-asset prime brokerage owned by a crypto company, following its acquisition of the global credit network Hidden Road. The acquisition process, which began in April, concluded in October, incorporating Hidden Road into the Ripple ecosystem. Through this maneuver, Ripple aims not only to excel in the payment domain but also to establish a formidable presence in institutional brokerage and clearing services.
Surge in RLUSD Utilization Boosts Ripple’s Growth
According to the company, operations of Ripple Prime have tripled since the announcement of the agreement. Ripple’s payment network, crypto custody infrastructure, and RLUSD stablecoin are being integrated into Ripple Prime services. This integration aims to expedite processes for institutional clients, enhance transparency, and reduce costs.
Furthermore, Ripple’s RLUSD stablecoin has started to be used as collateral for several derivative products within the Ripple Prime ecosystem. The company anticipates that RLUSD will gain wider user acceptance in the coming months. Ripple CEO Brad Garlinghouse stated during the announcement period that “we are entering a new phase of digital asset adoption as the US market emerges from the shadow of old SEC regulations.”
Marc Asch, founder of Hidden Road, will lead the integration process alongside the Ripple management team. This collaboration aims to advance Ripple’s corporate lending and investment services within the digital asset sphere.
Ripple’s Aggressive Growth Strategies Continue
The Hidden Road deal marks Ripple’s fifth major acquisition in the past two years. The company acquired digital asset custody firm Metaco in 2023 and Standard Custody in 2024. In August, it purchased the stablecoin-based payment platform Rail, and recently announced its acquisition of treasury management system provider GTreasury. GTreasury CEO Renaat Ver Eecke expressed, “By joining forces with Ripple, we are transitioning from capital management to active utilization.”
Additionally, Ripple’s RLUSD stablecoin achieved an ‘A’ rating from analytics firm Bluechip in the categories of stability, governance, and asset collateral in July. The company has selected BNY Mellon as the main custodian of RLUSD reserves.
Another significant development within the Ripple ecosystem is the IPO plans of the XRP-linked company Evernorth. Evernorth aims to generate over $1 billion in revenue by merging with Armada Acquisition Corp II. Japanese financial giant SBI Holdings invested $200 million in this deal, with Ripple Labs also supporting the process.
Following these developments, XRP started the week with a 5.2% increase, reaching $2.56. Ripple’s expansion efforts positively reflect on the token‘s performance.
In conclusion, Ripple’s acquisition of Hidden Road signifies a transition from mere payment infrastructure to a broader financial ecosystem. The Ripple Prime brand aims to provide a service network that competes with traditional financial institutional brokers. Concurrently, the growing use of RLUSD indicates the company’s intent to remain a stable force in financial solutions.
