Ripple has always been one of the most ambitious companies in crypto. And now, they’re coming after the opportunity in prime brokerages next.
What’s happening:
- Ripple has announced their intent to acquire multi asset prime brokerage company Hidden Road for $1.25B USD
Why it matters:
- Ripple’s acquisition of Hidden Road would represent the first time ever that a crypto company owns and operates a prime brokerage business
Going deeper:
- Hidden Road provides clearing and financing across foreign exchange, digital assets, fixed income markets and derivatives
- Ripple has also publicly stated they plan to leverage their stablecoin RLUSD into Hidden Road’s operations for the purposes of collateral and bridging together traditional finance and digital asset markets
