Ripple now a one-stop fintech shop after closing Hidden Road acquisition
Ripple completed its acquisition of Hidden Road, rebranding it as Ripple Prime to become a multi-asset prime broker.Summary
Ripple has finalized its acquisition of non-bank prime broker Hidden Road, rebranding it as Ripple Prime, positioning itself as the first crypto company to own and operate a multi-asset prime broker. This move expands Ripple's services beyond digital assets to include clearing, financing, and brokerage across derivatives, swaps, foreign exchange, and fixed-income products for institutional clients. The acquired business has already tripled in activity since the $1.25 billion acquisition was announced in April. Ripple intends to integrate blockchain capabilities into Ripple Prime in the future to streamline operations and enhance the utility of its Ripple USD (RLUSD) stablecoin, which is already being used by some derivatives customers for balances and collateral.
(Source：Cointelegraph)