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Ripple has announced its $1.25 billion acquisition of Hidden Road, a prime brokerage serving institutional markets, to bolster its stablecoin and XRP Ledger initiatives.
What’s the Scoop?
- Landmark Acquisition: Ripple to acquire multi-asset prime brokerage Hidden Road for $1.25 billion, marking one of the largest M&A deals in the digital asset space.
- Institutional Expansion: Ripple plans to integrate RLUSD stablecoin for efficient cross-margining and migrate Hidden Road’s operations onto the XRP Ledger.
- Global Footprint: Hidden Road boasts $3 trillion in annual clearing volume and a robust client base of over 300 institutions.
- Regulatory Hurdles: The deal awaits regulatory approvals but reinforces Ripple’s push for institutional adoption of digital assets.
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