Ripple Steps Into Prime Brokerage After $1.25 Billion Deal

After buying Hidden Road for $1.25 billion in 2025, Ripple rebranded it as Ripple Prime and began offering financing for swaps tied to ETFs. The platform now clears more than $3 trillion in trades each year for over 300 institutional clients.

In August 2026 the firm launched Delta One, letting clients enter Total Return Swaps on U.S. stocks, indices and digital assets. These products were once the domain of big investment banks.

Clients can now handle crypto, currencies, derivatives and ETFs through a single counterparty, with cross-margining applied across positions. The move marks a shift from Ripple’s earlier focus on payments toward a broader institutional finance business.

By moving into swap financing and prime services, Ripple is directly challenging Wall Street banks on their own turf.

Based on information from cryptonews.net