Ripple has made a landmark move, acquiring prime brokerage firm Hidden Road in a historic deal valued at $1.25 billion. This acquisition marks the first time a crypto company will fully own and operate a global, multi-asset prime broker. 🤯
With this purchase, Ripple aims to bring digital asset access to a wider audience of institutional investors, bridging the gap between traditional finance and the rapidly evolving world of cryptocurrency.
Hidden Road has been steadily gaining traction in the financial sector, providing seamless access to various assets such as foreign exchange, cryptocurrencies, swaps, and fixed income. The firm processes an astounding $3 trillion annually and works with over 300 prominent financial institutions worldwide.
This acquisition coincides with a critical moment for Ripple: the U.S. crypto regulatory landscape is finally becoming clearer after the SEC’s past actions. This presents a unique opportunity for Ripple to accelerate its growth within the institutional space, according to CEO Brad Garlinghouse. He believes the US market has reached an inflection point, paving the way for wider adoption of digital assets in traditional finance.
With Ripple’s strong financial backing and extensive regulatory licenses (over 60 globally), Hidden Road will now be equipped to expand its operations, take on new markets, and handle increased client demands.