Hidden Road Officially Goes Live on NSCC: What Does It Mean for XRP?

Hidden Road Partners CIV US LLC, recently rebranded as Ripple Prime after its acquisition by Ripple, was officially included in the Depository Trust & Clearing Corporation's (DTCC) National Securities Clearing Corporation (NSCC) Market Participant Identifiers (MPIDs) Directory as of March 2, 2026. This development has excited the XRP community, viewing it as a significant step for institutional adoption of the XRP Ledger (XRPL).

Ripple's CTO Emeritus, David Schwartz, suggested the delay in updating the name from Hidden Road to Ripple Prime in the directory might be due to pending regulatory approvals related to the acquisition. The NSCC provides crucial clearing and settlement services for broker-to-broker trades, meaning Ripple Prime now has direct operational standing within traditional finance post-trade workflows.

The strategic implication is that Ripple intends to migrate its post-trade activity to the XRPL to streamline operations and lower costs, positioning XRPL for institutional DeFi. While NSCC membership does not confirm immediate XRPL usage, it establishes a legal and technical path for institutional volume to potentially flow to the Ledger, which could create durable functional demand for XRP through increased network usage and transaction fees over the long term.

(Source：BeInCrypto)