Ripple Expands Crypto Brokerage Empire With EDX Integration

Ripple has integrated its global multi-asset prime brokerage platform, Ripple Prime, with the trading venues operated by EDX Markets and EDXM International. The integration enables Ripple Prime's clients to access EDX's spot and perpetual futures liquidity for digital assets within a unified, capital-efficient prime brokerage framework.

One Framework, Deeper Liquidity

EDX Markets' spot trading venue and EDXM International's perpetual futures exchange are primary price discovery destinations, offering deep liquidity and a non-conflicted structure modeled on best practices from traditional financial markets. Clients receive enhanced capital efficiency through Ripple Prime's credit intermediation, net settlement, and collateral management services, addressing common pain points brought by market fragmentation and counterparty risk.

Rather than settling every individual trade, Ripple Prime can net out positions and settle the difference, freeing up capital that would otherwise be locked in margin accounts, a meaningful advantage when trading at institutional scale.

The deal also has roots in Ripple's broader expansion strategy. The development follows Ripple's $1.25 billion acquisition of Hidden Road in April last year, a deal that gave Ripple ownership of a global, multi-asset prime brokerage business and positioned it among the few crypto-native firms in the sector. Hidden Road provides clearing, prime brokerage, and financing services across foreign exchange, digital assets, derivatives, swaps, and fixed income markets, forming the foundation of Ripple Prime.

RLUSD Settlement and What Comes Next

The partnership also lays the groundwork for the future integration of Ripple USD ($RLUSD), Ripple's U.S. dollar-backed stablecoin, as a settlement and collateral asset on EDX. This will enable institutional clients to post and receive margin via a fully regulated, compliant dollar-pegged digital asset and drive enhanced cross-collateralization and margin efficiencies across spot crypto and perpetual futures trading.

Ripple Prime has also been expanding its financing capacity, recently securing a $200 million debt facility from Neuberger Specialty Finance to support institutional margin financing and prime brokerage services.

Both sides framed the deal in terms of rising institutional demand. Michael Higgins, International CEO of Ripple Prime, said the partnership supports venues offering "a secure, liquid bridge between traditional and digital markets," adding that EDX delivers "the performance, reliability, and depth that our clients expect." EDX Markets CEO Tony Acuna-Rohter said institutions are seeking infrastructure that combines "the operational rigor of traditional finance with the innovation and efficiency of digital assets."

Sources:
Ripple official press release: Ripple Prime Partners With EDX
Finance Magnates: Ripple Prime Integrates with EDX Markets Following Hidden Road Acquisition
Fintech Global: Ripple Prime and EDX bridge institutional digital asset gap