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Hidden Road connects to DTCC infrastructure through NSCC
Hidden Road, which was renamed Ripple Prime following its acquisition by Ripple, has been added to the participant directory of the National Securities Clearing Corporation (NSCC). According to a notice from the Depository Trust & Clearing Corporation (DTCC), Hidden Road Partners CIV US LLC was included in the MPID list effective March 2, 2026.
This grants Ripple Prime direct operational status within the U.S. clearing system, Yahoo! Finance reports.
$1.25 billion deal and NSCC status
Ripple announced its intention to acquire Hidden Road in April 2025 and completed the $1.25 billion deal in October. After closing, the broker was rebranded as Ripple Prime. The transaction marked one of the largest M&A deals in the digital asset sector and made Ripple the first crypto company to own a global multi-asset prime broker.
NSCC, a subsidiary of DTCC, provides centralized clearing and acts as a counterparty for trades in the U.S. securities market. Inclusion in the MPID directory confirms direct operational status in post-trade processes.
Commenting on the use of the old company name in DTCC documentation, Ripple Chief Technology Officer David Schwartz explained that the delay may have been due to the initiative being underway before the acquisition was fully completed and all required regulatory approvals were obtained.
Potential shift of settlement flows to XRPL
At the time of the acquisition announcement, Ripple stated that Hidden Road planned to migrate its post-trade operations to the XRP Ledger. The company presented the move as a way to reduce costs, accelerate settlements, and demonstrate XRPL’s suitability for institutional use cases.
BankXRP noted:
“Ripple Prime’s role in bridging traditional and decentralized finance will likely lead to post-trade volumes moving onto XRPL.”
If part of the settlement flows are processed through the XRP Ledger, this would increase network activity and create practical demand for XRP for transaction fees and liquidity routing. Such demand would depend on actual volumes rather than investor sentiment.
At the same time, NSCC membership does not mean that the clearing corporation itself uses XRPL. It means Ripple Prime now has the regulatory and operational capacity to integrate blockchain into future workflows.
The key question now is whether meaningful settlement volumes will actually be transferred to XRPL.
Read also: Ripple expands custody offering with security and staking integrations
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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