Hidden Road

Hidden Road is a global, institutional-grade prime brokerage and credit network specializing in traditional and digital assets. Founded in 2018 by Marc Asch, a veteran of SAC Capital and Point72 Asset Management, the firm provides clearing, financing, and prime brokerage services across foreign exchange, digital assets, derivatives, OTC swaps, fixed income repo, precious metals, and exchange-traded derivatives. Hidden Road serves over 300 institutional clients and clears more than $3 trillion annually across markets, making it one of the largest prime brokers bridging traditional finance and crypto. The firm is SOC 2 Type II compliant and operates a conflict-free brokerage model with robust governance and risk management. In April 2025, Ripple agreed to acquire Hidden Road for $1.25 billion in one of the largest deals in the digital assets space. Following the close of the acquisition in October 2025, Hidden Road was rebranded as Ripple Prime, creating the first global multi-asset prime broker owned by a crypto company. The firm was headquartered in New York, New York prior to the acquisition.