u.today
Ripple's newly acquired prime brokerage arm, Hidden Road, went live on the DTCC’s National Securities Clearing Corporation (NSCC) directory earlier today.
The move has laid the groundwork to move massive institutional post-trade volume onto the $XRP Ledger.
The March 2 listing plugs the infrastructure of the controversial San Francisco-based enterprise blockchain company directly into Wall Street's legacy clearing system.
This milestone is the culmination of Ripple’s $1.25 billion acquisition of Hidden Road in 2025.
The firm, which now operates as Ripple Prime, is now positioned to leverage the speed and cost-efficiency of the XRPL to revolutionize traditional financial institutions.
The Depository Trust & Clearing Corporation (DTCC) is the ultimate backbone of the U.S. financial market. It processes quadrillions of dollars in securities transactions annually.
Ripple's most notable acquisition
As reported by U.Today, Ripple sent shockwaves through the industry by announcing its intent to acquire Hidden Road Partners for $1.25 billion.
Hidden Road was already clearing $3 trillion annually across markets for over 300 institutional clients.
Ripple explicitly stated that the acquisition would allow Hidden Road to migrate its post-trade activity to the XRPL.
The acquisition officially wrapped up in late October. Ripple became the first crypto company to own and operate a global, multi-asset prime broker. Hidden Road was rebranded as Ripple Prime back then.
The collaboration also places a heavy emphasis on Ripple's $RLUSD stablecoin.
Ripple Prime began actively using $RLUSD as collateral for a variety of its prime brokerage products.