Core Insights - Ripple is expanding its institutional services in the U.S. by launching digital asset spot prime brokerage services following the acquisition of Hidden Road, now rebranded as Ripple Prime [1][2] - Ripple Prime aims to provide U.S.-based institutions with access to over-the-counter (OTC) spot execution for various cryptocurrencies, including XRP and RLUSD [2] - The integration of Ripple's blockchain expertise with Hidden Road's prime brokerage capabilities allows for efficient execution of complex trading strategies in a regulated environment [3] Institutional Trading Platform - The platform covers multiple asset classes, including foreign exchange (FX), digital assets, derivatives, swaps, and fixed income, enhancing the trading capabilities for institutional investors [3] - Ripple Prime's OTC spot functionality allows clients to cross-margin their holdings and trades across various digital asset instruments, streamlining account management [4] Addressing Institutional Challenges - The prime brokerage model addresses key challenges in the crypto space, such as fragmented liquidity and collateral inefficiency, by integrating spot and derivative markets [5] - Ripple's entry into U.S. prime brokerage signifies a milestone in the crypto industry's maturation, responding to the increasing demand for regulated and efficient digital asset services [6] Broader Ecosystem Integration - Ripple Prime's infrastructure is part of a larger ecosystem that includes Ripple Payments and Ripple Custody, designed to enhance liquidity, settlement efficiency, and compliance for institutional clients [7]