Ripple Expands Crypto Reach by Purchasing Hidden Road for $1.25B
Ripple is now the first cryptocurrency business to own and run a worldwide prime broker that deals in multiple assets.
Through this acquisition, Ripple Expands Crypto hopes to introduce the legitimacy and expert trading services of traditional finance to the realm of digital assets. New avenues for institutional adoption will become available as a result.
Ripple’s Acquisition of Hidden Road Expands DeFi and Strengthens RLUSD
Offering services like clearing, prime brokerage, and financing across foreign currency (FX), digital assets, futures, swaps, and fixed income, Hidden Road is one of the prime brokers with the quickest rate of growth. The company serves more than 300 institutional clients and clears $3 trillion a year. Hidden Road is now poised to increase its capacity and firmly establish itself as the world’s largest non-bank prime broker, supported by Ripple’s substantial financial resources.
“We’re at a tipping point for digital asset adoption, especially in the U.S. market,” said Brad Garlinghouse, CEO of Ripple. We are in a position to change the space now that regulations are clear. Ripple Expands Crypto may become a major player in linking traditional banking with decentralized finance (DeFi) as a result of this acquisition, which could accelerate its growth.
Ripple is also reinforcing its stablecoin, Ripple USD (RLUSD), which will now be used as collateral across Hidden Road’s products. RLUSD becomes the first stablecoin to enable efficient cross-margining between digital assets and traditional markets, further establishing its enterprise-grade utility.
Hidden Road Moves to XRP Ledger, Boosting DeFi and Ripple Payments
In order to demonstrate the blockchain’s potential for institutional DeFi, Hidden Road will move its post-trade operations to Ripple’s XRP Ledger (XRPL). This action is expected to improve liquidity, reduce expenses, and streamline operations in Ripple Payments, the company’s cross-border payments system. A longtime pillar of Ripple, XRP is still essential to the company’s expansion and innovation.
“With Ripple’s resources and risk capital, we can expand our offerings, serve more markets, and provide the same trust and reliability that institutional clients expect from traditional finance, but optimized for the digital world,” stated Marc Asch, the founder and CEO of Hidden Road.
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