🇺🇸Live. At least one live or integrated claim that is not marked historical and is not a second-order hop.
Multi-asset prime broker. Ripple announced a $1.25 billion acquisition and said Hidden Road would migrate post-trade activity onto the XRP Ledger and use RLUSD as collateral. Those XRPL/RLUSD items were forward-looking at announcement. Later Ripple materials refer to Ripple Prime, formerly Hidden Road.
Named products / networks / assets: Hidden Road prime brokerage · Ripple Prime · RLUSD
Claims and evidence
Each claim is stored at project level. Integrated means a capability was implemented; live requires evidence of actual operation.
Ripple acquisitionLive
Ripple announced it is acquiring Hidden Road for $1.25 billion, describing Hidden Road as a prime broker offering clearing, prime brokerage and financing across FX, digital assets, derivatives, swaps and fixed income.
Geographic basis: US announcement (San Francisco & New York). Not assigned globally to every market Hidden Road clears. · Activity: United States
Company announcementAnnouncement only
Ripple Acquires Prime Broker Hidden Road for $1.25B
Ripple · published 2025-04 · checked 2026-09-08
Ripple announced it is acquiring Hidden Road for $1.25 billion. Hidden Road will migrate post-trade activity across XRP Ledger. RLUSD is described as enabling cross-margining and as collateral across Hidden Road’s prime brokerage products. The deal was described as expected to close in the coming months, subject to regulatory approvals.
Forward-looking XRPL migration and RLUSD collateral claims. Acquisition closing was later referred to in Ripple’s “one-stop shop” post; XRPL migration still treated as announced.
Building the One-Stop Shop for Digital Asset Infrastructure
Ripple · published 2025-12-05 · checked 2026-09-08
Ripple Prime, formerly Hidden Road, is described as offering institutional prime brokerage, clearing and financing, including OTC spot trades across major digital assets, including XRP and RLUSD.
Establishes that Ripple treats Hidden Road as Ripple Prime and that XRP is among tradable assets. Does not prove the XRPL post-trade migration is complete.
The acquisition release said Hidden Road will migrate post-trade activity across the XRP Ledger. That is an announced plan, not evidence that the migration has been completed.
Geographic basis: Announced by Ripple as a future operational change for Hidden Road; not a country-by-country deployment. · Activity: United States
Uncertainty: Completion of the XRPL post-trade migration is not established by the announcement.
Company announcementAnnouncement only
Ripple Acquires Prime Broker Hidden Road for $1.25B
Ripple · published 2025-04 · checked 2026-09-08
Ripple announced it is acquiring Hidden Road for $1.25 billion. Hidden Road will migrate post-trade activity across XRP Ledger. RLUSD is described as enabling cross-margining and as collateral across Hidden Road’s prime brokerage products. The deal was described as expected to close in the coming months, subject to regulatory approvals.
Forward-looking XRPL migration and RLUSD collateral claims. Acquisition closing was later referred to in Ripple’s “one-stop shop” post; XRPL migration still treated as announced.
Ripple said RLUSD becomes used as collateral across Hidden Road’s prime brokerage products. At announcement this was a planned utility, not independently verified live collateral volumes.
Geographic basis: US-announced product plan. Note: the asset named is RLUSD, a USD stablecoin. Categorised under XRP-adjacent usage only insofar as the atlas tracks documented digital-asset roles in Ripple deals — the role established is RLUSD collateral, not XRP collateral. · Activity: United States
Uncertainty: RLUSD collateral is not the same as XRP collateral. Independent live use is not established.
Company announcementAnnouncement only
Ripple Acquires Prime Broker Hidden Road for $1.25B
Ripple · published 2025-04 · checked 2026-09-08
Ripple announced it is acquiring Hidden Road for $1.25 billion. Hidden Road will migrate post-trade activity across XRP Ledger. RLUSD is described as enabling cross-margining and as collateral across Hidden Road’s prime brokerage products. The deal was described as expected to close in the coming months, subject to regulatory approvals.
Forward-looking XRPL migration and RLUSD collateral claims. Acquisition closing was later referred to in Ripple’s “one-stop shop” post; XRPL migration still treated as announced.
Exact closing date and regulatory approvals are not independently docketed here.
XRPL post-trade migration remains announced, not demonstrated.
X-Index (xindex.info) is an independent community research directory. v0.9.14 ingests China Country Packet 002. Enriched: Shanghai Huarui Bank (end-2015 PoC and CIO Sun Zhongdong’s 2016–2017 speeches distinguishing Ripple’s payment protocol from cryptocurrency; 2016 commercial-intent announcement remains historical) and LianLian (7 February 2018 RippleNet/xCurrent production agreement into China via the Hong Kong-licensed unit — not XRP). New cards: Tsinghua Institute for Fintech Research (UBRI grant, not a payments customer), University of Chinese Academy of Sciences (industry-report mention), China Banking Association (framework survey), and Shanghai Institutes for International Studies (Ripple/XRP/RTXP as a monetary-reform research example). Academic papers on Ripple as a case study stay in Documents, not as university customer cards. Ripple Payments China payout rails and bank-code tables are product docs, not customer lists. Huarui annual reports and the Lianlian HKEX prospectus were not added because a Ripple mention was not independently extracted. Insights blogs are not Press. A 2016 SBI Ripple Asia sales-territory sentence covering China is not a Chinese bank customer. v0.9.13 ingests United States Country Packet 001: Fed FEDS 2016.095 (Interledger mention; Ripple/XRP not named), Faster Payments Part One, Ripple’s OP-1625 comment, CFPB remittance reports, NYDFS virtual-currency license of Ripple Markets DE, OFAC FAQ 563 (XRP as an SDN address-type example), MoneyGram’s 2019 10-K (ODL/XRP, later ended), Interledger/IETF protocol papers, XRPL consensus and confidential-MPT specs, and academic papers labeled Academic. New cards: CFPB (mention), NYDFS (license, not a partnership), R3 (2016 XRP interbank trial — not Corda), Western Union (2018 testing), MIT Connection Science (2016 research validator), Berkeley Haas, Penn, and Morgan State (UBRI grants, not payments customers). A CFPB market example is not CFPB using XRP. Insights blogs and Fortune articles are not Press. The 2019 Fed ACH remittance report is declined (does not name Ripple/XRP). v0.9.12 adds a Press catalog of newsroom pages already sourced on organization records — Ripple’s own newsroom, issuer newsrooms, and wires. A press release is an announcement, not a 2026 live rail. v0.9.11 adds Aurum Equity Partners (Pleasanton) and Zoniqx for the announced $1B XRPL tokenized data-center fund, and the European Central Bank and World Economic Forum as mention-stage issuers of already-catalogued Documents. Not the Indian Aurum LLP. A WEF use-case example is not a WEF–Ripple partnership. Task-force co-members (SWIFT, CLS, NACHA) were not added as separate cards. v0.9.10 adds Documents from a user-supplied list: Federal Bank’s 2019 NSE Ripple intimation, Standard Chartered’s 2016 Ripple investment PDF, Breda et al.’s SSRN difference-in-differences of announced RippleNet adoption (not a bank filing), and academic papers on XRPL topology, patents, fiqh classification and consensus — labeled Academic, not institutional endorsement. A magazine reprint of the existing SG-FORGE EURCV page is not a second primary. Chinese how-to-buy XRP pages are not institutional. v0.9.9 adds Documents from a user-supplied PDF list: ECB 2015 virtual-currency analysis, Ripple’s 2021 House of Lords evidence, Palau PSC press, a World Bank CBDC energy note citing Ripple’s XRP table, and academic papers (Jani, Mokeeva/Novosibirsk lab cite, Firouzi, etc.) labeled Academic — not institutional endorsement. A 2018 student overview is not a bank customer. v0.9.8 adds Shariyah Review Bureau’s March 2022 Sharia Analysis of Ripple/XRP (alongside the existing XRP Compliant screen) and Ripple’s 2023–2024 seat on the BIS CPMI PIE task force — a historical industry-committee membership, not a current listing and not XRP as a G20 rail. v0.9.7 adds a Documents catalog of institutional and business pages that actually name Ripple, XRPL, or XRP — a caption or screenshot is not the source. Flags are headquarters plus sourced activity countries. A BRICS or OPEC mark is country membership, not a bloc partnership. A past announcement is not a current-day connection. Counts are documented organizations in this database, not exhaustive national adoption. Last updated 2026-09-10. Not affiliated with Ripple.
