Ripple Prime launches in U.S. with spot trading for XRP and RLUSD

Ripple has officially rolled out its latest digital asset prime brokerage platform in the U.S., broadening the scope of institutional participation in cryptocurrency trading through over-the-counter (OTC) spot services for assets such as XRP and RLUSD.

The launch of Ripple Prime in the U.S. market introduces a digital asset spot prime brokerage platform tailored for institutional clients. This new offering facilitates OTC spot trading for major cryptocurrencies, including XRP and RLUSD, enabling cross-margining across an array of digital assets, derivatives, swaps, and traditional financial instruments like FX and fixed income.

This strategic move by Ripple follows its completion of a $1.25 billion acquisition of Hidden Road in October 2025. By integrating Ripple’s regulatory licenses with Hidden Road’s established infrastructure, Ripple Prime now emerges as a consolidated brokerage service under the Ripple Prime banner.

Ripple Prime represents a significant milestone in Ripple’s continuous expansion into institutional crypto services encompassing custody, payments, and trading. This platform caters specifically to U.S.-based institutional clients, offering OTC spot execution for digital assets like XRP and RLUSD, in addition to swaps, cleared derivatives, foreign exchange (FX), fixed income products, and cross-margining opportunities across various asset classes, including CME futures and options.

Michael Higgins, International CEO of Ripple Prime, emphasized the importance of the launch of OTC spot execution capabilities, stating that this addition perfectly complements the existing suite of OTC and cleared derivatives services in digital assets, positioning Ripple to provide comprehensive offerings tailored to the trading requirements of U.S. institutions.

Under its institutional umbrella, Ripple now operates three major services in the U.S., including Ripple Prime for trading, Ripple Payments for blockchain-based cross-border payments, and Ripple Custody for secure digital asset storage. This integrated infrastructure aims to streamline processes related to liquidity, execution, and settlement for large-scale participants.

Ripple’s acquisition of Hidden Road has played a pivotal role in fueling its growth trajectory in the U.S. By absorbing prime brokerage capabilities and regulatory licenses through this acquisition, Ripple has equipped itself to operate effectively in a highly regulated environment, bridging the gap between traditional finance and digital assets with a full-service institutional brokerage offering.

In line with its aggressive growth strategy in 2025, Ripple’s notable moves include the acquisition of GTreasury for $1 billion, enabling access to corporate treasury clients, leading a $1 billion fundraising round to support XRP reserves and onchain liquidity, and engaging in political contributions aligned with the Trump administration.

Ripple CEO Brad Garlinghouse remains optimistic about the regulatory landscape in the U.S., citing recent developments such as the passing of a stablecoin bill and progress on broader crypto market structure legislation. Ripple’s ability to blend traditional financial products seamlessly with crypto offerings under one roof represents a significant advantage for institutions seeking exposure to digital assets without navigating multiple fragmented platforms. If Ripple can maintain regulatory compliance and sustain deep liquidity, this move has the potential to reshape institutional crypto adoption in the U.S.