Ripple Prime CEO Mike Higgins has shared the latest milestone for the prime brokerage firm in a recent X post.
According to Higgins, Ripple Prime has been shortlisted for several ‘Prime Broker of the Year’ recognitions at the Hedge Week US Awards 2026, including Client Service, Specialist Markets, Start-up & Emerging Managers, and Technology.
Proud to share that @Ripple Prime has been shortlisted for several ‘Prime Broker of the Year’ recognitions at the @Hedgeweek US Awards 2026, including Client Service, Specialist Markets, Start-up & Emerging Managers, and Technology. 💪🏼
Thank you to our clients & partners for…
— Mike Higgins (@mikehiggins) July 20, 2026
Ripple was shortlisted in the “Prime broker of the year: Specialist Markets” alongside Interactive Brokers and Mirae Asset Securities (USA). It was also shortlisted in the “Prime broker of the year: Start-up & Emerging Managers” and “Prime broker of the year: Technology” categories alongside Jones Trading, AGP Prime, and others.
In his post, the Ripple Prime CEO thanked clients and partners while adding that voting for winners is now open; Ripple Prime has only been shortlisted and will need votes to win in each of the aforementioned categories, with community support now required.
Ripple Prime makes giant strides
Ripple Prime, formerly known as Hidden Road, was acquired by Ripple in April 2025 and is regarded as one of the largest non-bank prime brokers globally, clearing over $3 trillion annually across over 300 institutional clients.
In a quarterly webinar with Token Relations, Ripple Prime CEO Mike Higgins said revenue has more than tripled since the acquisition, owing to new and existing clients growing their exposure. He cited three factors contributing to this growth: Ripple USD (RLUSD) stablecoin’s 24/7 collateral movement, a horizontal clearing infrastructure, and cross-margining across asset classes, which he said can reduce a $12.5 million margin requirement to about $1 million.
In the second quarter of this year, Ripple Prime added new integrations with EDX Markets, Coinbase Derivatives, Hyperliquid, and Bullish, as well as a $200 million debt facility from Neuberger Berman.
Higgins also noted a growth in clientele from crypto-native trading firms toward hedge funds, asset managers, pensions, and endowments, supported by increasing regulatory clarity under the GENIUS Act and the pending CLARITY Act.
Short-term priorities include enabling new collateral types such as tokenized money market funds and a “Delta One” equities business, while the long-term focus is on industry standardization.
