{"id":21227,"date":"2025-04-09T07:46:47","date_gmt":"2025-04-09T07:46:47","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21227"},"modified":"2025-04-09T07:46:47","modified_gmt":"2025-04-09T07:46:47","slug":"xrp-dumps-10-despite-ripples-1-25b-prime-brokerage-acquisition","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21227","title":{"rendered":"XRP Dumps 10% Despite Ripple\u2019s $1.25B Prime Brokerage Acquisition\u00a0"},"content":{"rendered":"
\n

On April 8, Ripple announced the acquisition of Hidden Road for $1.25 billion in what it described as one of the largest deals ever in the crypto space.<\/p>\n

Ripple also claimed<\/a> that with the acquisition, it became the first crypto company to own and operate a global, multi-asset prime broker. Hidden Road clears $3 trillion annually across markets with over 300 institutional clients.<\/p>\n

Large prime brokers help in the day-to-day operations of clearing, securities lending, and leveraged trade execution, among others, for large hedge funds and institutional investors.<\/p>\n

\n

\u201cBut the price tag isn\u2019t what\u2019s most important,\u201d said CEO Brad Garlinghouse, who added, \u201cIt\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<\/p>\n<\/blockquote>\n

Inflection Point for Crypto Adoption<\/h2>\n

Garlinghouse explained that this is the capital and activity \u201cthat will tap into XRP and the XRP Ledger\u2019s bread-and-butter \u2013 instant, efficient, scalable and low-cost movement of value.\u201d<\/p>\n

He added that instead of waiting for 24 hours to settle trades through fiat rails, Hidden Road will be using XRPL for clearing a portion of trades. It will also use RLUSD, the firm\u2019s stablecoin, as collateral across its prime brokerage services, including cross-asset crypto and traditional instrument trades, he said.<\/p>\n

\n

\u201cWith this deal and the backing of Ripple\u2019s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally.\u201d<\/p>\n<\/blockquote>\n

\n

Today, @Ripple<\/a> announced the acquisition of Hidden Road for $1.25B, one of the largest deals ever in the crypto space. But the price tag isn\u2019t what\u2019s most important \u2013 it\u2019s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted\u2026<\/p>\n

\u2014 Brad Garlinghouse (@bgarlinghouse) April 8, 2025<\/a><\/p>\n<\/blockquote>\n