Key Takeaways
- Ripple is acquiring a multi-asset prime broker for $1.25 billion.
- Hidden Road clears $3 trillion annually for over 300 institutional clients.
- Ripple had previously invested in the broker’s Series B and used its platform.
Ripple is expanding its footprint in institutional finance with a $1.25 billion deal.
The acquisition comes as regulatory uncertainty in the U.S. begins to ease and institutional demand for digital asset services continues to grow.
Ripple Buys Hidden Road for $1.25 Billion
Ripple announced Tuesday it will acquire Hidden Road in a $1.25 billion transaction.
The deal marks the second billion-dollar crypto deal of the year, reflecting growing momentum for digital assets like Bitcoin under U.S. President Donald Trump.
“We are at an inflection point for the next phase of digital asset adoption—the U.S. market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance,” said Ripple CEO Brad Garlinghouse.
Hidden Road clears more than $3 trillion annually for over 300 institutional clients. With Ripple’s backing, the broker aims to become the world’s largest non-bank prime brokerage.
The acquisition is also expected to enhance the role of Ripple’s stablecoin, RLUSD, which Hidden Road uses as collateral for brokerage operations.
Ripple Had Ties to Hidden Road Before the Deal
Ripple’s interest in Hidden Road is not new. The company previously invested in Hidden Road’s Series B round and used its platform internally.
With this acquisition, Ripple becomes the only crypto-native company to own and operate a global multi-asset prime broker.
The transaction is expected to close in the coming months.
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XRP did not react to the news.| Credit: CoinMarketCap.
XRP showed no notable reaction to the news, trading up 9% on the day before and reaching $1.93.
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