Ripple Completes Acquisition of Hidden Road, Launches Ripple Prime

Ripple finalizes its $1.25 billion acquisition of Hidden Road, now Ripple Prime, marking an unprecedented expansion into global multi-asset prime brokerage, according to their October 24 announcement.

This acquisition triples Ripple Prime’s business, integrating digital assets with traditional finance, significantly enhancing the utility of Ripple’s RLUSD stablecoin.

Ripple Prime Launched After Hidden Road Acquisition

Ripple completed the acquisition of Hidden Road, transforming it into Ripple Prime. Previously, Hidden Road offered services in clearing, prime brokerage, FX, digital assets, derivatives, swaps, and financing. Ripple aims to integrate these operations into a broader crypto ecosystem.

Ripple Prime’s business operations have grown threefold since the announcement of the acquisition. The firm expects continued growth and expanded utility for its stablecoin, RLUSD, within prime brokerage products, highlighting RLUSD’s increasing adoption in digital finance.

Ripple’s acquisition of Hidden Road distinguishes it as the pioneer crypto company operating a global multi-asset prime broker, marking a significant milestone in the integration of digital assets into traditional finance.

XRP Market Data and Expert Insights

Did you know? Ripple’s strategic move may accelerate the regulatory acceptance of digital assets and expand technological collaboration between digital and conventional asset markets.

According to CoinMarketCap, XRP trades at $2.51 with a market cap of formatNumber(150774668548, 2) and a 24.27% increase in trading volumes over 24 hours. XRP’s price saw a 4.78% increase over the past 24 hours, though it has decreased 21.05% over the last 90 days.

Coincu Research emphasizes the enhanced credibility for Ripple in traditional finance due to this acquisition. Ripple’s strategic move may accelerate the regulatory acceptance of digital assets and expand technological collaboration between digital and conventional asset markets.