Ripple Acquires Hidden Road for $1.25B

Ripple Acquires Hidden Road for $1.25 Billion

• Ripple acquired prime brokerage Hidden Road for $1.25 billion.
• The deal is one of the largest in the crypto industry’s history.
• Hidden Road, founded in 2018, serves over 300 institutional clients.
• The firm clears more than $3 trillion annually across markets.
• Ripple plans to integrate its stablecoin Ripple USD into Hidden Road’s platform.

This acquisition by Ripple aims to expand its services to a wider range of institutional clients, leveraging Hidden Road’s extensive financial service offerings and large client base. The integration of Ripple USD as collateral could enhance its position in the market for dollar-pegged cryptocurrencies.