Ripple Acquires Hidden Road for $1.25 Billion
- Ripple is acquiring prime brokerage firm Hidden Road for $1.25 billion.
- Hidden Road serves over 300 institutional clients with an annual clearing of $3 trillion.
- This acquisition makes Ripple the only crypto company owning a global multi-asset prime broker.
- The deal is expected to enhance the credibility of Ripple USD ($RLUSD) as a stablecoin.
- Hidden Road will transition its post-trade operations to the XRP Ledger.
Ripple’s acquisition of Hidden Road for $1.25 billion positions it uniquely as the sole crypto company with a global multi-asset prime broker, serving over 300 institutional clients and enhancing Ripple USD’s status as a stablecoin.
Source (2.6)https://www.newsbtc.com/news/next-crypto-to-explode-in-light-of-ripples-1-25b-hidden-road-deal/?rand=52377
