Hidden Road was acquired by Ripple in April 8, 2025 for $1.25 billion, which was the largest acquisition in Ripple’s history which will significantly expand Hidden Road’s capital base and capacity to become the largest non-bank prime broker globally

Event date

Apr 8, 2025 - 12:00am

Quotes that support claims

These strengths positioned Hidden Road as an attractive acquisition for blockchain payments network Ripple, which ultimately purchased the company on April 8.

Last week, the company announced it was being acquired by Ripple for $1.25 billion, the largest deal ever for the digital-asset company.

Kimmel said the transaction will expand Hidden Road’s capital base using Ripple’s larger balance sheet. “We were limited by our size prior to the deal,” he said

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.