Ripple, a leading blockchain firm based in the United States known for its stablecoin issuance, has unveiled its new digital asset spot prime brokerage capabilities specifically tailored for the U.S. market. This launch allows institutional clients to conduct over-the-counter (OTC) spot transactions involving a wide range of cryptocurrencies, including XRP and RLUSD.
Michael Higgins, the International CEO of Ripple Prime, articulated that this development enhances their current offerings, which include OTC and cleared derivatives services in digital assets. He emphasized that this move positions Ripple to deliver a comprehensive suite of services to meet the diverse trading strategies and requirements of U.S. institutions.
This announcement follows Ripple’s strategic acquisition of Hidden Road, a multi-asset prime brokerage, finalized last month for $1.25 billion. The integration of Hidden Road’s licensing with Ripple’s existing capabilities under Ripple Prime has significantly broadened the access that institutions have to essential financial services, such as digital assets, foreign exchange, futures, swaps, and fixed income products.
Ripple’s recent mergers and acquisitions highlight the company’s aggressive expansion plans in 2025. In addition to Hidden Road, Ripple also acquired GTreasury for $1 billion, a move lauded by CEO Brad Garlinghouse as a transformative development in corporate treasury management. In addition, the firm has formed a partnership with Bahrain Fintech Bay to advance blockchain adoption and innovation within the Kingdom.
Furthermore, Ripple has expanded its footprint in Africa through a collaboration with Absa Bank, allowing for the integration of Ripple’s institutional-grade digital asset custody technology. This will enable Absa to effectively store tokenized assets, including cryptocurrencies, for their customers in South Africa.
In an effort to bolster its XRP treasury funds and enhance ecosystem liquidity, Ripple recently led a $1 billion fundraising round. Despite a challenging market, Garlinghouse hinted at a more favorable U.S. regulatory environment under potential future governance.
In another significant development for XRP, momentum is building around the long-awaited exchange-traded funds (ETFs). Both Bitwise and Canary Capital have filed their final updates for spot XRP ETFs, setting the stage for a mid-November launch.
Recent adjustments by regulators have streamlined ETF approvals, reducing the waiting period to 75 days for digital asset issuers. Approximately 20 XRP ETF applications are currently pending with the U.S. Securities and Exchange Commission.
Meanwhile, sentiments within the ETF industry remain optimistic. Bitwise’s Chief Investment Officer, Matt Hougan, noted that an XRP ETF has the potential to achieve significant inflows quickly, while CEO of Canary Capital, Steven McClurg, has posited that investor interest could reach as high as $5 billion within the first month of trading, a substantial figure compared to the $3.2 billion drawn by Bitcoin ETFs during their debut.
Despite the enthusiastic outlook, XRP has recently faced some volatility, experiencing a 6.7% drop in value within a 24-hour period, bringing its trading price to $2.33.
