TechFlow, April 12 — According to Catenaa, Ripple announced its acquisition of global major broker Hidden Road for $1.25 billion, becoming the first cryptocurrency company to own and operate a global multi-asset prime brokerage business. Hidden Road clears over $3 trillion annually and serves more than 300 institutional clients.
According to the report, Hidden Road will migrate its post-trade operations to the XRP Ledger, while Ripple’s stablecoin RLUSD will be integrated into Hidden Road’s collateral system for cross-margining between digital assets and traditional markets.
Ripple CEO Brad Garlinghouse stated that as the U.S. regulatory environment becomes clearer and market infrastructure matures, this acquisition holds significant importance for digital asset adoption. Earlier, Ripple reached a settlement with the U.S. Securities and Exchange Commission (SEC) by paying a $50 million penalty.
