Ripple Acquires Hidden Road to Build World’s Largest Non-Bank Prime Broker
Ripple has made a major move into institutional finance with the acquisition of prime broker Hidden Road in a deal worth around $1.25 billion.
This strategic buy gives Ripple control over a firm that processes over $3 trillion in trades annually and serves more than 300 institutions—making Ripple the first crypto company to operate a global, multi-asset prime brokerage.
The two firms already had a long-standing relationship, and Ripple now plans to integrate its own tech stack, including the XRP Ledger and its RLUSD stablecoin, into Hidden Road’s operations. Some trade settlements will shift away from traditional fiat systems, using RLUSD as collateral.
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Ripple CEO Brad Garlinghouse called the deal a rare opportunity to connect digital assets with traditional finance at scale. Meanwhile, company president Monica Long downplayed any near-term IPO plans, emphasizing Ripple’s focus on private growth through acquisitions.
The timing also reflects changing conditions in U.S. regulation, which Ripple believes is finally opening the door for broader crypto adoption. Hidden Road’s leadership sees the deal as a catalyst for expanding into new products, markets, and asset classes.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
