{"id":126709,"date":"2025-04-08T13:17:59","date_gmt":"2025-04-08T13:17:59","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126709"},"modified":"2025-04-08T13:17:59","modified_gmt":"2025-04-08T13:17:59","slug":"ripple-acquires-crypto-friendly-prime-broker-hidden-road-for-1-25b","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126709","title":{"rendered":"Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBlockchain-based payments network Ripple announced it has acquired crypto-friendly prime broker Hidden Road in one of the largest mergers in the cryptocurrency industry to date.<br \/>\nRipple is acquiring Hidden Road in a $1.25 billion deal, the company officially announced on April 8.<br \/>\nThe deal will make Ripple the first crypto firm to own and operate a global, multi-asset prime broker. According to the company\u2019s April 8 announcement, the acquisition is expected to position Ripple as the world\u2019s largest non-bank prime broker, with Hidden Road currently clearing more than $3 trillion across more than 300 institutions.<br \/>\nThe acquisition also aims to reinforce the position of Ripple USD (RLUSD), an institution-focused stablecoin launched by Ripple in December 2024.<br \/>\nRipple has been a Hidden Road customer for years<br \/>\nRipple has been a customer of Hidden Road for years and \u201cknows their breadth of expertise firsthand,\u201d Ripple CEO Brad Garlinghouse said in an X post on April 8.<br \/>\nHe also mentioned that Hidden Road\u2019s $3 trillion in annual clearing will tap into Ripple-backed XRP (XRP) and its underlying decentralized, public blockchain, the XRP Ledger (XRPL).<br \/>\nSource: Brad Garlinghouse\u201cInstead of waiting for up to 24 hours to settle trades through fiat rails, Hidden Road will be using XRPL for clearing a portion of trades, and most consequentially, using RLUSD as collateral across its prime brokerage services,\u201d Garlinghouse wrote on X.<br \/>\n\u201cThe price tag isn\u2019t what\u2019s most important \u2014 it\u2019s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa,\u201d the CEO added.<br \/>\nThe crucial role of SEC leadership changes<br \/>\nGarlinghouse said the move comes at a pivotal time in the US digital assets industry and makes a crucial contribution to the market amid a regulatory shift in the US.<br \/>\n\u201cWe are at an inflection point for the next phase of digital asset adoption \u2014 the US 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,\u201d Garlinghouse said, adding:<br \/>\n\u201cWith these tailwinds, we are continuing to pursue opportunities to massively transform the space, leveraging our unique position and strengths of XRP to accelerate our business and enhance our current solutions and technology.\u201d<br \/>\nHidden Road founder and CEO Marc Asch expressed confidence in the anticipated growth of the company with the acquisition.<br \/>\n\u201cWith new resources, licenses, and added risk capital, this deal will unlock significant growth in Hidden Road\u2019s business, allowing us to increase capacity to our customer base, expand into new products, and service more markets and asset classes,\u201d Asch stated.<br \/>\nThis is a developing story, and further information will be added as it becomes available.<br \/>\nMagazine: XRP win leaves Ripple and industry with no crypto legal precedent set<a href=\"https:\/\/cointelegraph.com\/news\/ripple-acquires-crypto-friendly-prime-broker-hidden-road-for-1-3-b?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBlockchain-based payments network Ripple announced it has acquired crypto-friendly prime broker Hidden Road in one of the largest mergers in the cryptocurrency industry to date. Ripple is acquiring&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126709"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126709"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126709\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126709"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}