- Ripple has agreed to acquire Hidden Road for $1.25 billion, making it the first crypto company to own a global multi-asset prime broker.
- The deal will enhance Ripple’s infrastructure and expand the use of its stablecoin, RLUSD, in bridging traditional and digital markets.
In a move that is set to reshape the digital asset landscape, Ripple has announced its agreement to acquire Hidden Road for $1.25 billion. This monumental deal positions Ripple as the first cryptocurrency company to own and operate a global multi-asset prime brokerage, marking one of the largest acquisitions in the digital assets space.
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Hidden Road, a rapidly growing prime broker, offers a suite of services that includes clearing, prime brokerage, and financing for digital assets, derivatives, foreign exchange (FX), swaps, and fixed income. With a robust customer base of over 300 institutional clients and $3 trillion in annual clearing volume, the company’s services have become indispensable in bridging the gap between traditional finance and the emerging world of decentralized finance (DeFi).
For Ripple, this acquisition represents a significant step in its ongoing mission to bring digital assets into the institutional fold. Ripple aims to address the critical infrastructure needs that have long hindered institutional adoption of blockchain technology. With the integration of Hidden Road’s services, Ripple will be able to provide top-tier, professional trading and clearing services expected in legacy finance, now within the digital asset realm.
In addition to expanding Ripple’s infrastructure, the deal will significantly enhance the utility of Ripple USD (RLUSD), the enterprise-grade, USD-backed stablecoin. RLUSD will now enable cross-margining between digital assets and traditional markets, further establishing its position as a cornerstone of Ripple’s offerings.
Ripple’s acquisition also underscores the growing potential of the XRP Ledger (XRPL), which will host Hidden Road’s post-trade activity. The migration to XRPL will streamline operations, lower costs, and demonstrate the blockchain’s readiness to support institutional-grade decentralized finance solutions.
With a strong foundation built on trust, reliability, and cutting-edge technology, Ripple’s acquisition of Hidden Road promises to accelerate the adoption of digital assets in global finance, providing institutions with the tools needed to navigate both traditional and digital markets seamlessly.
