Ripple Acquires Hidden Road for $1.25 Billion
- Ripple acquired Hidden Road, a crypto-friendly prime broker, for $1.25 billion.
- This acquisition makes Ripple the first crypto company with a global multi-asset prime broker.
- The deal allows Hidden Road to use Ripple USD (RLUSD) as collateral.
- Hidden Road will migrate its post-trade operations to the XRP Ledger (XRPL).
- Hidden Road services over 300 institutional clients and clears more than $3 trillion annually.
The acquisition of Hidden Road by Ripple for $1.25 billion positions Ripple as a leader in the crypto sector, enabling the use of RLUSD as collateral and integrating operations into the XRPL for enhanced scalability and cost efficiency.
Source (2.6)https://cryptobriefing.com/ripple-hidden-road-acquisition/?rand=59535
