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4w ago

Ripple Acquires Hidden Road for $1.25 Billion in Major Crypto-Finance Deal

The acquisition integrates Ripple’s blockchain technology into Hidden Road’s operations, with plans to scale institutional services and expand in traditional finance.

Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo
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Ripple acquires prime broker Hidden Road for $1.25 billion
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Overview

  • Ripple has announced a $1.25 billion agreement to acquire Hidden Road, a prime brokerage firm clearing over $3 trillion annually for more than 300 institutional clients.
  • The deal will incorporate Ripple’s RLUSD stablecoin as collateral and utilize the XRP Ledger to improve settlement efficiency across Hidden Road’s services.
  • Ripple plans to inject billions of dollars into Hidden Road to rapidly scale its operations and position it as the largest non-bank prime broker globally.
  • The acquisition reflects a favorable shift in U.S. regulatory conditions, enabling greater institutional adoption of digital assets.
  • Hidden Road’s founder, Marc Asch, will continue to lead the firm under Ripple, with the deal expected to close in the coming months pending regulatory approval.