On April 8, Ripple announced its acquisition of Hidden Road, a global prime brokerage platform, for $1.25 billion. This deal marks Ripple as the first crypto-native firm to own a multi-asset prime broker with an established institutional network. The acquisition aims to deepen Ripple's institutional service offerings and create a direct link between traditional financial markets and blockchain ecosystems. Ripple plans to integrate its stablecoin, RLUSD, into Hidden Road's services, using it as collateral for cross-margining. Hidden Road will also leverage XRP and the XRP Ledger (XRPL) to streamline trade settlement, reducing settlement times significantly.
Ripple to Acquire Hidden Road for $1.25 Billion, Bridging Crypto and Traditional Finance
Edited by: Yuliya Shumai
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