Ripple's Prime Brokerage: Transforming the Crypto Spot Market

Ripple Launches Prime Brokerage Services for Crypto Spot Market

4 November 2025 at 08: 54

Reading time: 3 minutes

Ripple recently expanded its operations with the launch of a prime brokerage service for digital assets, targeting the US market. This follows the announcement, some seven months ago, that the company would acquire Hidden Road, a crypto-friendly prime broker. The acquisition cost $1,25 billion, as previously announced in April and now finalized in October.

In an official announcement, Ripple announced that its institutional clients in the US can now execute over-the-counter (OTC) spot trades in various cryptocurrencies. Michael Higgins, the global CEO of Ripple Prime and a former executive at Hidden Road, emphasized that these OTC spot execution capabilities complement Ripple's existing range of OTC and cleared derivatives services, giving it a comprehensive suite of services that addresses the diverse trading strategies and needs of US institutions.

This expansion is not only a strategic move to gain a competitive advantage in the rapidly evolving crypto market, but also an example of the growing integration of traditional financial services and digital assets. With the acquisition of Hidden Road, Ripple can now position itself as a multi-asset prime broker for crypto traders, which offers the possibility of cross-margin OTC spot transactions, holdings, as well as swaps, futures, and options on the CME. These developments come as Ripple prepares for the annual Swell conference in New York City, a crucial meeting place for influential players in the sector.

Ripple's Influence on the US Political Arena

Ripple is more than just a player in the crypto market; the company has also made its mark on the US political landscape. Several executives, including CEO Brad Garlinghouse, have developed close ties to the current White House. One highly publicized involvement occurred in October, when a Ripple representative attended a fundraising event for a newly proposed project: a 90.000-square-foot ballroom for President Donald Trump. This project, estimated to be worth $350 million, resulted in the demolition of the historic East Wing of the White House.

Furthermore, Ripple has lent its support to the political action group Fairshake, which is likely responsible for helping elect dozens of candidates seen as pro-crypto policies, particularly in the upcoming 2024 elections. This involvement not only underscores Ripple's ambition to expand its influence at the policy level but also demonstrates the company's ability to effectively represent the interests of the crypto industry.

Price movements and market dynamics

Despite these strategic expansions, the price performance of XRP, the cryptocurrency issued by Ripple, has been a source of concern. According to recent data from Nansen, the price of XRP has seen a decline of around 5% over the past 24 hours, from $2,50 to $2,37. This raises questions about market acceptance and the influence of external factors, such as regulation and competition, which could impact the price of this asset. Monitoring these fluctuations is crucial for investors, especially given Ripple’s potential to play a larger role in both the crypto and traditional financial markets.

Frequently Asked Questions

What are the key benefits of Ripple's prime brokerage service for institutional clients?
Ripple's prime brokerage service offers institutional clients access to a wide range of OTC spot transactions and multi-asset trading opportunities. This allows them to optimize their trading strategies, leverage cross-margin opportunities, and utilize established products such as CME futures and options.

How does Ripple influence political strategy regarding crypto policy in the US?
Ripple has strong ties to US political figures and supports political action groups like Fairshake. This allows the company to influence policymaking that benefits the cryptocurrency sector, which can help foster a more favorable regulatory environment.

What does XRP's recent price drop mean for investors?
XRP’s recent price drop could indicate increased volatility and market uncertainty. It’s important for investors to monitor these price movements closely, as they can provide insight into overall market dynamics and the impact of external influences such as regulations.

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