Less than a year after acquiring Hidden Road, Ripple says its rebranded prime brokerage business is becoming a cornerstone of its push to connect traditional finance with digital assets through 24/7 institutional trading.
Speaking to Markets Media on July 17, Michael Higgins, international CEO of Ripple Prime, said the firm is building infrastructure for what he called "Wall Street 2.0," where collateral, liquidity and settlement increasingly move from traditional banking rails onto blockchain networks.
Once the $1.25 billion acquisition of non-bank prime broker Hidden Road closed in October 2025, Ripple Prime saw its revenue triple year over year.
Ripple, known for the RLUSD stablecoin and XRP (CRYPTO: XRP) Ledger infrastructure, also secured a $200 million debt facility from Neuberger Specialty Finance.
The capital will be used to increase financing available to clients trading across both traditional and digital markets, allowing Ripple Prime to expand its lending capacity and serve a broader range of institutional counterparties.
