{"id":21100,"date":"2025-04-08T12:46:47","date_gmt":"2025-04-08T12:46:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21100"},"modified":"2025-04-08T12:46:47","modified_gmt":"2025-04-08T12:46:47","slug":"ripple-acquires-crypto-friendly-prime-broker-hidden-road-for-1-25b","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21100","title":{"rendered":"Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B"},"content":{"rendered":"
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Blockchain-based payments network Ripple announced it has acquired crypto-friendly prime broker Hidden Road following its win in a long-running battle with securities regulators in the United States.<\/p>\n

Ripple is acquiring Hidden Road in a $1.25 billion deal, one of the largest-ever acquisitions in the crypto industry, the company officially announced<\/a> on April 8.<\/p>\n

With Hidden Road\u2019s $3 trillion clearing across more than 300 institutions, Ripple is set to become the \u201cfirst crypto company to own and operate a global, multi-asset prime broker,\u201d which is anticipated to become the \u201clargest non-bank prime broker globally,\u201d the announcement notes.<\/p>\n

The acquisition also aims to reinforce the position of Ripple USD (RLUSD), an institution-focused stablecoin launched by Ripple<\/a> in December 2024.<\/p>\n

Ripple CEO Brad Garlinghouse stressed that the acquisition makes a crucial contribution to the market amid regulatory changes in the United States, with key shifts taking place within the Securities and Exchange Commission (SEC).<\/p>\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:<\/p>\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<\/p><\/blockquote>\n

Hidden Road founder and CEO Marc Asch expressed confidence in the anticipated growth of the company with the acquisition.<\/p>\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.<\/p>\n

This is a developing story, and further information will be added as it becomes available.<\/p>\n

Magazine: <\/strong><\/em>XRP win leaves Ripple and industry with no crypto legal precedent set<\/strong><\/em><\/a><\/p>\n