Particle.news
Download on the App Store
8 ARTICLES
·
2w ago

Ripple Announces $1.25 Billion Acquisition of Prime Broker Hidden Road

The deal positions Ripple as the only crypto company to own a global multi-asset prime broker, with plans to integrate Hidden Road's services into its infrastructure.

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

Overview

  • Ripple has confirmed its $1.25 billion acquisition of Hidden Road, a major prime broker handling $3 trillion annually for over 300 institutional clients.
  • The acquisition will integrate Ripple's RLUSD stablecoin as collateral and explore using the XRP Ledger to enhance settlement efficiency.
  • Hidden Road founder Marc Asch will remain with Ripple, leading its prime brokerage division post-acquisition.
  • The deal, expected to close in the coming months pending regulatory approval, highlights a maturing U.S. crypto market following regulatory shifts.
  • Ripple will become the only crypto company to operate a global multi-asset prime broker, significantly expanding its institutional service offerings.