Ripple has significantly expanded its global financial services following its acquisition of Hidden Road, which took place in October 2025 for $1.25 billion. This strategic move has allowed Ripple to rebrand Hidden Road as Ripple Prime, marking a revolutionary step for the company. Ripple now operates as the first crypto company to own a major brokerage firm with a multi-asset global scale.
How Does the New Structure Work?
Ripple’s latest acquisition has bolstered its portfolio by integrating a well-established corporate customer base. Prior to the transaction, Hidden Road provided over $3 trillion in annual settlement services to more than 300 institutional clients. Ripple Prime now offers multi-asset swaps, cross-collateralization, portfolio financing, and risk-based financing, further diversifying Ripple’s capabilities.
The company’s business model has evolved from focusing solely on cross-border payments to embracing a broader financial infrastructure. This includes Ripple Payments, Custody, stablecoin settlements, treasury solutions, and primary brokerage functions. As Ripple Payments focuses on value transfer, Ripple Custody supports the storage and management of digital assets. Additionally, RLUSD specializes in settlement and collateral functions, while Ripple Prime handles execution, clearing, financing, and liquidity services.
Brad Garlinghouse emphasized that efforts in Ripple Payments, Ripple Prime, Ripple Treasury, Custody, and RLUSD aim to create trust, utility, and liquidity around XRP and the XRP Ledger.
For corporate investors, this model aims to reduce the burden of establishing separate exchange, custody, liquidity provider, and credit relationships in the fragmented crypto market. Ripple’s approach enables institutions to access multiple markets through centralized credit and settlement infrastructure. The multi-asset structure advocates for digital assets to be integrated rather than seen as separate from traditional markets.
Can XRP Maintain Its Momentum?
Following a notable recovery in recent weeks, XRP’s momentum appeared to wane in September. Initially valued at around $1.10 at the start of August, XRP’s price surged to approximately $1.42 by September 6. Despite retreating to between $1.35 and $1.37 on September 11 and 12, it remains roughly 24% to 25% higher than its early August valuation.
On-chain data highlights the increased activity of significant XRP holders. Reports indicate that wallets holding between 1 million and 10 million XRP bolstered their holdings during the early stages of the price rise, adding 642 million XRP amid the climb from $1.00 to $1.70.
- Ripple Prime represents a pivotal expansion of Ripple’s financial infrastructure.
- Hidden Road’s acquisition introduces a multi-asset operation with a proven institutional client base.
- XRP’s recent price movements exhibit recovery, despite some fluctuations in September.
- Investor focus has increasingly shifted towards privacy-centric tools like CryptoAppsy for comprehensive market analysis.
Ripple’s recent moves suggest a shift towards a diversified financial services structure, although XRP remains a central component of its strategy. The acquisition of Hidden Road is seen not as a departure from XRP, but as a step towards establishing broader digital asset infrastructure for institutional markets.
