Ripple to Acquire Prime Broker Hidden Road in $1.25 Billion Deal

Ripple has announced plans to acquire prime brokerage firm Hidden Road in a $1.25 billion deal. This is one of the largest purchases in Ripple’s history and marks a major step toward expanding its role in both the crypto and traditional financial markets.

This deal is the second billion-dollar acquisition involving a crypto company this year, showing how digital assets like Bitcoin are gaining momentum in the U.S. Ripple CEO Brad Garlinghouse said the regulatory environment in the country has improved, making it easier for crypto firms to grow. He noted that the market is now more mature and ready to meet the demands of traditional finance.

Hidden Road is a prime brokerage firm that offers services such as trade clearing, securities lending, and access to leverage for large clients like hedge funds and institutional investors. The company processes about $3 trillion in transactions each year and has over 300 institutional clients around the world.

With Ripple’s financial backing, Hidden Road is expected to grow rapidly and become the largest non-bank prime broker globally. Once the deal is completed, Ripple will become the only crypto company to own and operate a global multi-asset prime brokerage.

This move also gives Ripple’s stablecoin, RLUSD, a bigger role. Hidden Road already accepts RLUSD as collateral in its services, and Ripple believes this acquisition will increase the coin’s real-world use. RLUSD was launched last year as a stablecoin tied to the U.S. dollar, aiming to compete with other major stablecoins like Tether and USD Coin.

The deal is expected to close in the coming months and reflects Ripple’s ongoing effort to strengthen its position in both the crypto and traditional finance worlds.

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