Landmark Acquisition in Crypto Prime Brokerage
Ripple has agreed to acquire global credit network Hidden Road for $1.25 billion in a deal that positions the company as the first crypto firm to own a global prime broker. Hidden Road processes $3 trillion in annual volume and serves over 300 institutions.
“This acquisition transforms our ability to bridge traditional finance and crypto,” said Ripple CEO Brad Garlinghouse, pointing to the favorable regulatory climate under the Trump administration.
Strategic Benefits for Ripple’s Ecosystem
Ripple intends to leverage the acquisition to bolster its ecosystem, including XRPL and Ripple Payments. Hidden Road will migrate post-trade activity to XRPL, enhancing efficiency and liquidity.
The deal also strengthens Ripple’s stablecoin ambitions. RLUSD, Ripple’s USD-backed stablecoin, will be used as collateral on Hidden Road, enabling cross-margining between crypto and traditional assets — a first in the market.
Ripple’s Next Chapter
With this acquisition, Ripple adds licenses, resources, and capital to scale its business across new products and geographies. Hidden Road CEO Marc Asch noted that the firm will now expand its offerings and serve a wider range of clients.
