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Hidden Road will migrate its post-trade operations to the XRP Ledger (XRPL) to enhance settlement efficiency and reduce costs.
Ripple is a blockchain-based payments network aiming to integrate traditional finance with digital assets.
Hidden Road is a crypto-friendly, multi-asset prime brokerage and global credit network clearing over $3 trillion annually.
Ripple’s $1.25 billion acquisition of Hidden Road is aimed at transforming Ripple into the world’s largest non-bank prime broker while accelerating its stablecoin and institutional service offerings.
Hidden Road will adopt Ripple’s U.S. dollar-backed stablecoin (RLUSD) as collateral across its prime brokerage services, making RLUSD the first stablecoin to enable efficient cross-margining between traditional and digital asset markets.
Ripple announced a $1.25 billion acquisition of Hidden Road, marking one of the crypto industry's largest M&A deals.
CEO Brad Garlinghouse described the $1.25 billion acquisition of Hidden Road as a pivotal moment for the crypto industry, signaling the U.S. market’s readiness for institutional adoption and deeper integration with traditional finance.

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