Financial powerhouse Ripple has made a significant move, acquiring crypto broker Hidden Road for $1.25 billion. This acquisition positions Ripple as the first cryptocurrency firm to control a global, multi-asset prime brokerage platform. The deal is expected to close in coming months, subject to regulatory approval. 🌿 This strategic move comes after reports of Hidden Road being in talks for a potential takeover and follows an unsolicited offer from another crypto company, which remains undisclosed. Hidden Road serves over 300 institutional clients, handling over $3 trillion annually across foreign exchange, digital assets, derivatives, and fixed income. Ripple’s CEO, Brad Garlinghouse, emphasizes that this acquisition aligns with the U.S.’s growing digital asset adoption. He highlights a positive regulatory environment paving the way for greater integration of traditional finance into crypto markets. 🤝 The move is significant in enabling Ripple to integrate its stablecoin, Ripple USD (RLUSD), as collateral for Hidden Road’s brokerage products. This integration creates a unified trading environment for institutional investors, allowing for efficient cross-margining between traditional and digital market spaces. Additionally, Hidden Road will transition its post-trade operations to the XRP Ledger (XRPL), which Ripple claims will lower costs and increase scalability for high-volume financial transactions. Marc Asch, CEO of Hidden Road, expressed optimism about this acquisition, stating it will provide vital resources, licenses, and risk capital to fuel their company’s expansion. He believes this move will allow Hidden Road to expand its offerings, reach a wider market and establish a new era in the crypto sector.