In an interview with the BFM business, Ripple’s managing director, Cassie Craddock, unveiled the veil of how blockchain companies intend to weave XRP Ledger on the structure of Prime Brokerage. Speaking about Ripple’s $1.25 billion acquisition of London’s leading hidden road, Craddock confirmed that the upcoming Rlusd, “will be used as collateral,” she said, “in essence,” [enables] The bridge between Digital Asset Space and Tradfi is very exciting. ”
The role of XRP ledger
Craddock elaborates on the entire trade stack plan for Hidden Road to move to XRP Ledger. “XRP Ledger will be used as a post-trade trade for all hidden Rose Prime brokerage services,” she said. With the final ending of XRPL’s settlement, it is expected to compress the post-trade timeline, which can extend to 24 hours on the traditional track, as the final ending of XRPL’s settlement takes three to five seconds, the move is expected to compress the post-trade timeline, which can extend to 24 hours on the traditional track. Hidden Roads process more than 50 million transactions a day, clearing over $10 billion per day; transferring the payload to XRPL represents one of Ripple’s twelve-year-old blockchain’s most ambitious real-world performance tests.
Executives highlighted that the ripples in captivity are being acquired. Hidden Road is cleared annually in foreign exchange, derivatives, fixed income and digital assets, with approximately $3 million per year in hedge funds, market makers and proprietary trading companies. “We’ve seen the captive audience of these 300 institutional clients be a very interesting client portfolio,” Craddock noted.
The same audience is expected to benefit from RLUSD as CrossMark Asset. Hidden Road’s model has allowed customers to publish Bitcoin or U.S. treasury as collateral for foreign transactions; inserting a dollar-stabilizing protein that is completely vice versa into the combination, which opens the door between what Craddock calls a “bridge” and a traditional asset class. Under the integration plan, RLUSD will move locally on XRPL, enabling customers to commit capital and resolve transactions in a single atomic workflow.
Cryptoeri, a well-known crypto commentator, highlighted the operational angle in the post on X, concluding: “XRP Ledger may process some actual transactions (e.g., STAITLING TRADES, mobile RLUSD collateral) and data (e.g., recording trade details, reconciling trade details, reconciling clear data) to understand the post-trade process of the Hidden Road trade.” She warned that more details must come from “ripples and detectives on the ledger,” but these comments echo Ripple’s ambitions to show the ledger to clear the bus for real time rather than the passive settlement layer.
Ripple’s acquisition was announced on April 8, 2025 and is still awaiting regulatory clearance. The hidden roads have been connected to places like Coinbase International, Okx, Deribit, Bitfinex and Bullish, and once the deal is over, Rlusd provides Ripple with Rlusd’s ready-made distribution channels. Meanwhile, Cradock stressed that Ripple’s focus remains “to build use cases and uses for digital assets and enable and resolve customer issues for our banking and institutional clients.”
At press time, XRP was trading at $2.11.
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