Ripple Acquires Prime Broker Hidden Road in $1.25 Billion Deal

Ripple, a blockchain-based payments network, has successfully acquired Hidden Road, a crypto-friendly prime broker, following a prolonged legal battle with securities regulators in the United States. The acquisition, valued at $1.25 billion, marks one of the largest in the crypto industry and positions Ripple as the first crypto company to own and operate a global, multi-asset prime broker. This move is expected to strengthen Ripple's position in the market, particularly with the Ripple USD stablecoin, amid regulatory changes in the US. Ripple CEO Brad Garlinghouse highlighted the significance of the acquisition in light of evolving regulations and the growing maturity of the digital asset market. With the acquisition, Hidden Road anticipates significant growth opportunities, including expanding its customer base, introducing new products, and entering new markets and asset classes. This is an ongoing development, and more details will be provided as they emerge. The acquisition of Hidden Road by Ripple has implications for the crypto industry, as it sets a new legal precedent for digital asset companies.