Blockchain payments firm Ripple is announcing its planned acquisition of global prime broker Hidden Road for $1.25 billion, marking one of the largest transactions in cryptocurrency history. According to a new press release , the deal positions the San Francisco-based crypto company as the first to own a multi-asset prime brokerage, which processes over $3 trillion annually for more than 300 institutional clients. Says Ripple CEO Brad Garlinghouse of the deal, “We are at an inflection point for the next phase of digital asset adoption – the US market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance. With these tailwinds, we are continuing to pursue opportunities to massively transform the space, leveraging our position and the strengths of XRP to accelerate our business and enhance our current solutions and technology.” The integration will combine Hidden Road’s clearing and financing services with Ripple’s XRP Ledger to streamline trade activities and reduce transaction costs. Says Hidden Road CEO Marc Asch of the acquisition, “With new resources, licenses, and added risk capital, this deal will unlock significant growth in Hidden Road’s business, allowing us to increase capacity to our customer base, expand into new products, and service more markets and asset classes. Together with Ripple, we’re bringing the same level of trust and reliability that institutional clients are accustomed to in traditional markets — designed and optimized for a digital world.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Ripple To Spend $1,250,000,000 Acquiring Prime Broker Hidden Road appeared first on The Daily Hodl .
