Ripple acquires Hidden Road for $1.25 billion, expanding its reach in crypto brokerage.
The deal positions Ripple as a pioneer in the digital assets space and the first cryptocurrency company to own and operate a global, multi-asset primary brokerage firm.
Hidden Road is a rapidly growing primary brokerage handling $3 trillion in annual trades and serving over 300 institutional clients.
Ripple plans to integrate Hidden Road's post-trade activities into the XRP Ledger, furthering its vision for XRPL as the blockchain of choice for enterprise decentralized finance.