Yigit Taha OZTURK 
As the leading provider of digital asset infrastructure for financial institutions, Ripple has announced its acquisition of Hidden Road—one of the fastest-growing prime brokers in the world—for $1.25 billion. The deal marks one of the largest transactions in the digital asset sector.
With this acquisition, Ripple becomes the first crypto company to own and operate a global, multi-asset prime broker, offering services across FX, digital assets, derivatives, swaps, and fixed income markets.
RLUSD Powers Institutional DeFi
The acquisition reinforces Ripple USD (RLUSD)’s role as an enterprise-grade stablecoin. RLUSD becomes the first to enable efficient cross-margining between traditional markets and digital assets.
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Hidden Road will migrate its post-trade activity to the XRP Ledger (XRPL) to reduce operational costs and demonstrate XRPL’s potential as the preferred blockchain for institutional DeFi.
Global Impact and Strategic Growth
With $3 trillion+ in annual cleared volume and more than 300 institutional clients, Hidden Road will use Ripple’s balance sheet to exponentially grow and become one of the largest non-bank prime brokers globally.
Ripple CEO Brad Garlinghouse stated: “The U.S. market is open for the first time with the former SEC overhang gone, and the industry is maturing to meet TradFi needs. We’re accelerating digital asset adoption at scale.”
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