Ripple Prime lands four "Prime Broker of the Year" nods — time to start voting, Mike Higgins says 🗳️

Ripple Prime has been shortlisted in four categories at the Hedge Week US Awards 2026, Chief Executive Officer Mike Higgins announced in a July 20 X post. The prime brokerage arm of Ripple is up for "Prime Broker of the Year" in Client Service, Specialist Markets, Start-up & Emerging Managers, and Technology, with voting for winners now open to clients and partners.

In the Specialist Markets category, Ripple Prime is shortlisted alongside Interactive Brokers and Mirae Asset Securities (USA). The Start-up & Emerging Managers and Technology shortlists also feature Jones Trading and AGP Prime, among other firms. Higgins said Ripple Prime "is only been shortlisted and will need votes to win," adding that community support is required.

Ripple Prime, formerly Hidden Road, was acquired by Ripple in April 2025. The firm clears more than $3 trillion annually across over 300 institutional clients and is regarded as one of the largest non-bank prime brokers globally. In a quarterly webinar with Token Relations, Higgins said revenue has more than tripled since the acquisition, attributing the growth to three factors: 24/7 collateral movement via Ripple USD (RLUSD), a horizontal clearing infrastructure, and cross-margining across asset classes that he said can reduce a $12.5 million margin requirement to about $1 million.

In the second quarter, Ripple Prime added integrations with EDX Markets, Coinbase Derivatives, Hyperliquid, and Bullish, and secured a $200 million debt facility from Neuberger Berman. Higgins also pointed to a shift in clientele from crypto-native trading firms toward hedge funds, asset managers, pensions, and endowments, supported by regulatory clarity under the GENIUS Act and the pending CLARITY Act.

Short-term priorities include enabling new collateral types such as tokenized money market funds and launching a "Delta One" equities business, with longer-term efforts centered on industry standardization.