Ripple Prime has been shortlisted in four categories at the Hedgeweek US Awards 2026.

The company has been nominated for Prime Broker of the Year: Client Service, Prime Broker of the Year: Technology, Prime Broker of the Year: Specialist Markets, and Prime Broker of the Year: Start-up & Emerging Managers. Winners will be determined through public voting, with the awards ceremony scheduled for October 8, 2026, in New York.

The nominations place Ripple Prime alongside established names in the traditional financial services industry, including major banks, trading platforms, fund administrators and technology providers competing across Hedgeweek’s institutional investment categories.

Ripple Prime’s journey

Ripple Prime’s origins trace back to Ripple’s acquisition of Hidden Road, a global prime brokerage and institutional credit network, in 2025. The deal, valued at approximately $1.25 billion, is one of Ripple’s largest moves into institutional financial markets.

Hidden Road was founded in 2018 by Marc Asch and specialized in providing prime brokerage services to hedge funds, asset managers, proprietary trading firms, and institutional investors.

Following the acquisition, Hidden Road was rebranded as Ripple Prime, becoming a dedicated institutional-grade platform within Ripple’s broader financial ecosystem.

Expanding beyond payments

For much of its history, Ripple has been primarily associated with blockchain-based payments and the development of the $XRP Ledger (XRPL). The company’s flagship institutional product, Ripple Payments, has focused on helping financial institutions and businesses move money internationally using blockchain technology.

The acquisition of Hidden Road signaled a broader strategy: rather than only providing payment rails, Ripple began positioning itself as a provider of financial infrastructure for institutions.

The platform inherited Hidden Road’s existing institutional network and infrastructure, which was built to support trading and financing activities across areas such as digital assets, foreign exchange, derivatives and fixed income products.

The Hedgeweek nominations recognize several aspects of this model, including technology capabilities, specialist market services and support for emerging managers.

The “Specialist Markets” nomination is particularly notable because digital assets remain a developing institutional market compared with traditional asset classes.

Ripple Prime’s nominations place the company in competition with established financial market providers.

The recognition also comes at a time when institutional adoption of blockchain technology is moving beyond simple cryptocurrency exposure.

Whether the company ultimately wins any of the four categories, the nominations show the increasing presence of digital asset-focused firms.