Ripple, a leading blockchain technology firm, has announced its agreement to acquire Hidden Road, a multi-asset prime brokerage firm, for $1.25 billion. This acquisition is one of the largest in the digital asset industry to date and is expected to significantly bolster Ripple’s institutional offerings. By integrating Hidden Road’s capabilities, Ripple aims to address the evolving needs of traditional financial institutions and accelerate the adoption of digital assets. Additionally, Ripple plans to incorporate its stablecoin, Ripple USD (RLUSD), into Hidden Road’s operations, facilitating efficient cross-margining between traditional and digital asset markets
Key Points:
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Ripple has agreed to acquire multi-asset prime brokerage firm Hidden Road for $1.25 billion.
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The acquisition aims to enhance Ripple’s institutional services, leveraging Hidden Road’s platform to serve a broader range of institutional clients.
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Ripple plans to integrate its stablecoin, Ripple USD (RLUSD), into Hidden Road’s operations, using the token as collateral across the prime brokerage’s products.
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