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Following
RLUSD Ripple Prime received multiple U.S. Hedge Fund Award nominations, institutional business accelerated growth
Ripple Prime received four Hedgeweek U.S. Award nominations while expanding its institutional brokerage business and increasing its visibility in global financial markets. Since Ripple acquired the company, its revenue has more than tripled, supported by RLUSD, cross-margin deposits, strategic integration and new institutional customers. Ripple Prime plans to expand more collateral options and equity businesses in the context of improved regulatory clarity to attract hedge funds, pension and asset management companies.
Ripple Prime has received multiple nominations for "Major Broker of the Year" at the 2026 Hedgeweek American Awards, highlighting the company's continued expansion in the institutional brokerage space. This recognition reflects its growing role in digital asset and traditional financial markets after its integration into Ripple.
Ripple Prime CEO Mike Higgins announced the nominations on the X platform and thanked customers and partners for their continued support. He also encouraged the community to participate in the voting, as shortlisted companies are competing for this year's awards.
The company was nominated in the customer service, professional markets, start-up and emerging managers, and technology categories. Ripple Prime will compete with well-known companies in the industry, including Interactive Brokers, Future Asset Securities America, Jones Trading, AGP Prime and many other leading institutions.
These nominations place Ripple Prime among recognized institutional service providers while reflecting its growing visibility in key brokerage areas. The final winner will be determined through the award voting process.
Post-acquisition revenue growth
Ripple Prime, formerly known as Hidden Road, has expanded significantly since Ripple completed the acquisition in April 2025. The major broker currently clears more than US$3 trillion in annual trading volume for more than 300 institutional clients around the world. According to Higgins 'remarks at a recent quarterly Token Relations webinar, the company's revenue has more than tripled since joining Ripple. He attributed this to more active participation from existing clients and a steady inflow of new institutional clients.
In addition, Higgins pointed to Ripple USD (RLUSD), horizontal clearing infrastructure and cross-margin across multiple asset classes as the main drivers of growth. Together, these services improve the capital efficiency of institutional traders. He explained that in certain trading scenarios, cross margins can reduce margin requirements from approximately $12.5 million to nearly $1 million. As a result, institutions can allocate capital more efficiently while maintaining exposure to different markets.
In addition, Ripple Prime strengthened infrastructure in the second quarter through integrations with EDX Markets, Coinbase Derivatives, Hyperliquid and Bullish. The company also received $200 million in debt financing from Neuberger Berman to support further expansion.
Wider institutional adoption of strategies to shape the future
Higgins also noted that Ripple Prime is attracting a wider range of institutional participants. In addition to crypto-native trading companies, hedge funds, asset management companies, pension funds and endowments are increasingly joining the platform. He linked this trend to the increased regulatory clarity brought by the GENIUS Act and the proposed CLARITY Act.
The company's near-term strategy includes introducing more collateral options, such as tokenized money market funds, and expanding into Delta One equity business. These initiatives aim to broaden institutional access and strengthen the company's service capabilities.
Conclusion
Ripple Prime's multiple award nominations come at a time of rapid expansion and increased institutional engagement. Its growing customer base, broader infrastructure and strategic product development highlight the company's efforts to consolidate its position in the world's major brokerage industry.
