Hidden Road company
Overview
The non-bank prime broker Hidden Road, which provides clearing, financing and execution services in foreign exchange, digital assets, derivatives and fixed income, has been acquired by Ripple. The deal, valued at roughly $1.25 billion, was agreed in April 2025 and has now closed, with the business rebranded as Ripple Prime. Ripple has stated that RLUSD will serve as collateral across the broker's product suite and that post-trade operations will migrate to the XRP Ledger.
Within The Counterparty graph, Hidden Road connects to 11 tracked entities, most strongly to Ripple, Ripple, Ripple Labs.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 10 of 11 total).
| Relation | Connected entity | Confidence |
|---|---|---|
acquired | Ripple | 95% |
owns | Ripple | 95% |
acquired | Ripple Labs | 95% |
holds_license | Hidden Road MiCA CASP Authorisation (Netherlands) | 95% |
integrates_with | XRPL | 90% |
headquartered_in | United States | 85% |
used-by | Ripple USD | 85% |
founded | Marc Asch | 85% |
employed_by | Marc Asch | 85% |
founded | Dan Matuszewski | 85% |
Frequently asked questions
What is Hidden Road?
Hidden Road is a prime_brokerage tracked in The Counterparty knowledge graph. It is connected to 11 other tracked entities, most strongly to Ripple, Ripple, Ripple Labs.
What type of entity is Hidden Road?
Hidden Road is classified as a prime_brokerage (company) in The Counterparty knowledge graph.
What is Hidden Road connected to?
In The Counterparty knowledge graph, Hidden Road is linked to 11 other tracked entities, most strongly to Ripple, Ripple, Ripple Labs.
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
In the wire
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- 2026-07-22 Ripple Prime scores four Hedgeweek nominations in Wall Street push crypto_news_dot