Mike Higgins, CEO of Ripple Prime, recently announced a new achievement for the company on X (formerly Twitter).
Ripple Prime is a finalist for multiple “Prime Broker of the Year” awards at the 2026 Hedge Week US Awards, as reported by Higgins. The firm has been recognized in categories like Client Service, Specialist Markets, support for Start-ups and Emerging Managers, and Technology.
We’re excited to announce that Ripple Prime has been nominated for multiple ‘Prime Broker of the Year’ awards at the 2026 Hedgeweek US Awards! We’re in the running for Client Service, Specialist Markets, Start-up & Emerging Managers, and Technology. 💪🏼
A big thank you to all our clients and partners for your continued support.
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— Mike Higgins (@mikehiggins) July 20, 2026
Ripple has been recognized as a top prime broker, receiving nominations for several awards. It’s up for “Prime Broker of the Year” in Specialist Markets, competing with Interactive Brokers and Mirae Asset Securities (USA). Ripple also earned nominations in two other categories – serving start-ups/emerging managers and technology innovation – where it’s competing against firms like Jones Trading and AGP Prime.
The CEO of Ripple Prime expressed gratitude to their clients and partners and announced that voting for the awards is now underway. Ripple Prime has been nominated in several categories and needs votes to win, so they’re asking for support from the community.
Ripple Prime makes giant strides
Ripple now owns Ripple Prime (formerly Hidden Road), a major global player in financial services. It’s one of the biggest non-bank prime brokers, processing more than $3 trillion each year for over 300 institutions.
During a recent webinar with Token Relations, Ripple Prime CEO Mike Higgins announced that revenue has increased by over three times since the company was acquired. This growth is due to both new and current clients expanding their use of Ripple’s services. Higgins highlighted three key reasons for this success: the 24/7 availability of collateral movement with the Ripple USD (RLUSD) stablecoin, a streamlined clearing system, and cross-margining – which allows customers to significantly reduce costs, potentially lowering margin requirements from $12.5 million to around $1 million.
During the April-June period this year, Ripple Prime expanded its capabilities by connecting to platforms like EDX Markets, Coinbase Derivatives, Hyperliquid, and Bullish. They also secured a $200 million line of credit from Neuberger Berman.
Higgins observed a shift in customers, with more business coming from traditional financial institutions like hedge funds, asset managers, and pension funds, alongside the existing crypto trading firms. This trend is being fueled by clearer regulations, specifically the GENIUS Act and the upcoming CLARITY Act.
Right now, we’re working to allow more kinds of assets to be used as collateral, like digital versions of money market funds and stocks from major companies. Looking ahead, our main goal is to help create common standards for the entire industry.
2026-07-20 16:34