Hidden Road, after its acquisition by Ripple, plans to use Ripple’s RLUSD stablecoin as collateral for its prime-brokerage products and migrate its post-trade operations to the XRP Ledger blockchain

Quotes that support claims

Ripple’s chief technology officer, David Schwartz, described the acquisition as a “defining moment for the XRP Ledger” by expanding the settlement layer’s use cases across traditional financial markets. Under Ripple, Hidden Road will “exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally,” said CEO Brad Garlinghouse.

Hidden Road said it will use Ripple’s RLUSD stablecoin as collateral for its prime-brokerage products and move its post-trade activity to the XRP Ledger blockchain.