Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B
With Hidden Road’s $3 trillion clearing, Ripple is set to become the “first crypto company to own and operate a global, multi-asset prime broker.”
Blockchain-based payments network Ripple announced it has acquired crypto-friendly prime broker Hidden Road following its win in a long-running battle with securities regulators in the United States.
Ripple is acquiring Hidden Road in a $1.25 billion deal, one of the largest-ever acquisitions in the crypto industry, the company officially announced on April 8.
With Hidden Road’s $3 trillion clearing across more than 300 institutions, Ripple is set to become the “first crypto company to own and operate a global, multi-asset prime broker,” which is anticipated to become the “largest non-bank prime broker globally,” the announcement notes.
Read more
