TechFlow news, April 8 — According to Fortune, cryptocurrency payments company Ripple announced its acquisition of crypto-friendly prime broker Hidden Road for $1.25 billion, one of the largest acquisitions in the cryptocurrency industry to date.
The deal will be paid primarily in cash, along with XRP tokens and stock, and is expected to close in the coming months pending regulatory approval. Marc Asch, founder of Hidden Road, will remain with Ripple to lead its prime brokerage business. As part of the transaction, Ripple will inject several billion dollars in funding to support the capital requirements of Hidden Road's prime brokerage operations.




