Ripple launches crypto spot prime brokerage services
Ripple has expanded its services to include digital asset spot prime brokerage for US institutional clients following its acquisition of Hidden Road.Summary
During its Swell conference in New York, Ripple announced the expansion of its services to include digital asset spot prime brokerage for US institutional clients. This launch follows Ripple's acquisition of the crypto-friendly prime broker Hidden Road, which was finalized in October as part of a $1.25 billion deal disclosed in April. The new OTC spot execution capabilities complement Ripple's existing suite of OTC and cleared derivatives services, allowing US institutions to execute OTC spot transactions across multiple cryptocurrencies. Michael Higgins, International CEO of Ripple Prime, stated this positions them to offer a comprehensive suite of trading solutions. With the Hidden Road acquisition, Ripple can now act as a multi-asset prime broker, offering services like cross-margin OTC spot transactions, holdings, OTC swaps, and CME futures and options.
(Source：Cointelegraph)