Ripple is making a significant institutional push with the launch of its newly named platform, Ripple Prime, which now offers over-the-counter (OTC) spot trading in major digital assets. This includes its own XRP as well as the stablecoin RLUSD.
Ripple Prime breaks ground in the US today with the launch of digital asset spot prime brokerage capabilities – allowing clients to execute OTC spot transactions across the most prominent digital assets and stablecoins, including $XRP and $RLUSD. https://t.co/zTYb4MrPX4
— Ripple (@Ripple) November 3, 2025
Platform Introduction and Institutional Access
Ripple Prime, operating under the Ripple umbrella, now enables institutional clients in the U.S. to conduct OTC spot trading in dozens of digital assets. Crucially, the offering facilitates the cross-margining of spot trades with derivatives, swaps, and futures positions, integrating digital assets with more conventional financial instruments on a single platform. Michael Higgins, CEO of Ripple Prime International, stated that the new spot execution features will complement the company's existing digital asset derivative offerings.
Strategic Acquisition: Hidden Road
This development follows Ripple's acquisition of Hidden Road, a multi-asset prime brokerage with a global clearing, financing, and derivatives business. The infrastructure of Hidden Road has been incorporated into Ripple Prime, allowing the company to provide a comprehensive suite of prime brokerage services, encompassing FX, fixed income, derivatives, and now, spot crypto trading.
Implications and Market Positioning
Ripple is positioning itself as a bridge between traditional finance (TradFi) and crypto finance by offering a unified platform for spot crypto, derivatives, and traditional financial instruments. The functionality of RLUSD as collateral and for cross-margining further enhances its appeal for institutional use. This strategic move aims to establish Ripple as a one-stop institutional infrastructure provider for digital assets.
Regulatory and Competitive Environment
The evolving regulatory landscape in the U.S. is becoming more favorable for digital asset infrastructure, encouraging institutional innovation. Ripple is capitalizing on this momentum. The competition for institutional wallet share and prime brokerage services in the crypto space is intensifying as other firms also introduce institutional-grade products.
Conclusion
The launch of Ripple Prime's institutional digital asset ecosystem as a U.S. spot prime brokerage service represents a groundbreaking offering in the market. By integrating spot trading, derivatives functionality, cross-margining, and stablecoins, the company is creating a premium space between crypto and traditional finance. With increasing regulatory clarity and widespread institutionalization, Ripple's enhanced infrastructure could mark a turning point in how large entities engage with digital assets. Client adoption will be the key determinant of the platform's success, but regulatory stability and the firm's capacity for seamless integration across asset classes will ensure its full realization, with the groundwork now firmly established.