From CNBC: 2025-04-08 08:08:00

Ripple announced its acquisition of Hidden Road for $1.25 billion, its largest deal yet. Hidden Road offers prime brokerage services, clearing over $3 trillion annually for 300+ institutional customers. The acquisition aims to enhance infrastructure for financial institutions entering the crypto space, utilizing Ripple’s RLUSD stablecoin as collateral.

The acquisition deal is expected to close by the third quarter of 2025, pending regulatory approvals. Ripple CEO Brad Garlinghouse cited the need for top-tier infrastructure to support the growing interest of traditional financial institutions in the crypto industry. The acquisition follows Ripple’s victory in a legal case with the SEC last month.

Ripple’s acquisition of Hidden Road reflects the company’s strategic move to bolster its prime brokerage services. The deal comes amidst a more favorable regulatory environment for the crypto industry, with the re-election of Donald Trump promising supportive policies. Ripple CEO Garlinghouse emphasized the importance of supportive regulations for such acquisitions to make sense.

Ripple’s acquisition of Hidden Road is part of the company’s efforts to expand its prime brokerage services and strengthen its position in the digital asset space. The deal signals Ripple’s commitment to providing top-tier infrastructure for financial institutions venturing into crypto. The acquisition is expected to close by the third quarter of 2025, pending regulatory approvals.

Read more: Crypto firm Ripple to buy primer broker Hidden Road for $1.25 billion