Ripple Prime has been nominated for four awards at the Hedgeweek U.S. Awards 2026, highlighting Ripple’s growing presence in institutional financial services beyond its traditional blockchain payments business.
According to Ripple Prime CEO Michael Higgins, the platform has been shortlisted for Prime Broker of the Year in four categories:
- Client Service
- Technology
- Specialist Markets
- Start-up & Emerging Managers
The winners will be determined through a combination of public voting and industry evaluation, with the awards ceremony scheduled for October 8 in New York.
Higgins shared the news on social media, saying he was proud to see Ripple Prime recognized across multiple prime brokerage categories. The nominations place the company alongside several well-established financial firms competing for the same awards.
A major step into institutional finance
The nominations come less than a year after Ripple completed its $1.25 billion acquisition of Hidden Road, a major prime brokerage firm serving institutional investors.
Following the acquisition, Hidden Road was rebranded as Ripple Prime, giving Ripple a much larger role in traditional financial markets.
Today, Ripple Prime provides services such as clearing, financing, risk management, and market access for institutional clients across multiple asset classes. According to Ripple, the platform processes more than $3 trillion in annual clearing volume and serves over 300 institutional customers worldwide.
Its services cover a wide range of markets, including:
- Digital assets
- Foreign exchange (FX)
- Precious metals
- Exchange-traded derivatives
- OTC swaps
- Fixed-income and repo markets
Moving beyond blockchain payments
For years, Ripple was primarily known for its payment technology and products built around the XRP Ledger. The acquisition of Hidden Road marked a significant shift toward institutional brokerage and financial infrastructure.
Prime brokers play a critical role in financial markets by providing hedge funds, trading firms, and institutional investors with financing, settlement, margin, and trading services through a single relationship.
Ripple Prime now offers portfolio financing, risk-based margin services, and access to both traditional and digital asset markets.
Continued growth in institutional services
Since the acquisition, Ripple Prime has continued expanding its capabilities.
Earlier this year, the company secured access to a financing facility of up to $200 million from Neuberger Berman, helping support lending and margin services across crypto, equities, bonds, and foreign exchange markets.
The platform has also expanded its connectivity to institutional trading venues, including partnerships with digital asset marketplaces that allow clients to access both spot and derivatives markets through a unified brokerage structure.
Recognition for a growing business
While the Hedgeweek nominations do not guarantee a win, they represent another sign that Ripple Prime is gaining recognition in the institutional finance sector.
The awards come as Ripple continues building a broader financial ecosystem that now includes:
- Payments infrastructure
- Custody services
- Stablecoin products
- Institutional brokerage
- Financing and clearing services
The final results will be announced at the Hedgeweek U.S. Awards ceremony in New York on October 8, where Ripple Prime will compete against some of the industry’s most established prime brokerage providers.
