Ripple Seals $1.25 Billion Hidden Road Deal Amid Acquisition Streak
Ripple finalized its $1.25 billion acquisition of Hidden Road, rebranding it as Ripple Prime to offer global multi-asset prime brokerage services.Summary
Ripple has officially completed its acquisition of Hidden Road, a rapidly growing non-bank prime broker, for $1.25 billion, rebranding the entity as Ripple Prime. This move establishes Ripple as the first crypto firm to own a global multi-asset prime broker, integrating its technology and products into institutional operations spanning foreign exchange, derivatives, fixed income, and digital assets. Ripple Prime will offer clients access to Ripple's ecosystem, including the XRP Ledger (XRPL) and the RLUSD stablecoin, with plans for Hidden Road's post-trade clearing to migrate onto the XRPL. This acquisition is part of Ripple's recent acquisition streak aimed at deepening its integration into traditional finance infrastructure, following the $1 billion purchase of GTreasury and the $200 million agreement to acquire Rail for stablecoin infrastructure.
(Source：BeInCrypto)