Ripple completes acquisition of Hidden Road, rebrands as Ripple Prime, expands operations to include clearing, financing, and brokerage services for institutional clients. Business activity tripled since $1.25 billion acquisition in April, with further growth expected from new and existing customers. Ripple aims to integrate blockchain capabilities into Ripple Prime to optimize costs.

Ripple’s new business, Ripple Prime, set to enhance Ripple USD stablecoin’s utility and reach, complementing services offered within the platform. Plans to integrate blockchain capabilities to streamline operations and optimize costs in the future. RLUSD stablecoin expected to play a key role in transitioning to blockchain rails, already used as collateral for prime brokerage products.

Ripple continues acquisition spree with recent purchases of GTreasury and Rail, following previous acquisitions of Standard Custody and Metaco. Total of six strategic deals in 28 months as part of Ripple’s broader push to offer blockchain and crypto products to institutions. Ripple at forefront of bridging traditional finance with digital assets.

Read more at CoinTelegraph: Ripple Closes $1.25 Billion Hidden Road Acquisition