Ripple’s Acquisition of Hidden Road Receives Key Regulatory Nod

Hidden Road, a major brokerage firm set to be acquired by Ripple, has received crucial regulatory clearance from the U.S. Financial Industry Regulatory Authority (FINRA) for its operations in the United States. The approval granted to its subsidiary Hidden Road Partners CIV US LLC opens the door for the company to expand its fixed income prime brokerage platform. As a broker-dealer, Hidden Road now plans to provide a wider array of compliance services to institutional clients, encompassing clearing, financing, and prime brokerage services for fixed income assets. This acquisition was announced earlier this month when Ripple agreed to purchase Hidden Road for $1.25 billion, pending regulatory approval and expected completion within the coming months. #XRP