Blockchain payments firm Ripple has launched a spot prime brokerage service for its institutional clients in the United States. This expansion allows clients to execute over-the-counter (OTC) spot trades across a range of cryptocurrencies, marking a significant step in the company’s service offerings.

The new capabilities are a direct result of Ripple’s recent acquisition of Hidden Road, a crypto-focused prime broker. The deal, which was finalized in October, enables Ripple to function as a comprehensive, multi-asset prime broker for professional crypto traders.

Building on the Hidden Road Acquisition

By integrating Hidden Road’s infrastructure, Ripple can now provide a full suite of services tailored to the needs of institutional trading strategies. This includes cross-margin OTC spot transactions and custody, as well as OTC swaps and cleared derivatives like CME futures and options. The announcement coincided with Ripple’s annual Swell conference in New York City.

Michael Higgins, the international CEO of Ripple Prime and a former Hidden Road executive, explained that the new OTC spot execution feature complements the company’s existing derivatives services. He stated that this positions Ripple to offer US institutions a complete package designed to meet their specific trading requirements.

Influence Beyond Finance: Ripple’s Political Engagement

Beyond its financial services, Ripple remains an active participant in shaping US policy. The company is a prominent supporter of Fairshake, a political action committee (PAC) dedicated to backing candidates who advocate for clear and favorable cryptocurrency regulations. Fairshake played a role in the 2024 US elections by supporting numerous candidates aligned with its mission to foster innovation in the digital asset industry.