Ripple completes Hidden Road acquisition, becoming first crypto firm to own global multi-asset prime broker

Ripple has finalized its acquisition of Hidden Road, a move that establishes it as the first cryptocurrency company to own a global multi-asset prime broker. The acquired entity has been rebranded as Ripple Prime, a service intended to significantly scale institutional access to digital assets via global prime brokerage services. This acquisition bolsters Ripple's institutional capabilities by integrating enhanced custody and trading functionalities. Furthermore, Ripple is expanding its reach by partnering with a major South African financial institution for digital asset custody and has integrated its stablecoin with tokenized funds from major asset managers, allowing for instant exchanges that maintain money market yield exposure for institutional clients.

(Source：Crypto Briefing)