<ul><li>Blockchain company Ripple Labs Inc. has acquired prime brokerage firm Hidden Road Inc. for $1.25 billion.</li><li>Hidden Road specializes in over-the-counter services for digital assets and offers a range of services, including clearing, prime brokerage, and financing.</li><li>Ripple plans to use its balance sheet to expand its capacity and become the largest nonbank prime broker globally.</li><li>The acquisition enables Hidden Road to leverage Ripple's stablecoin, RLUSD, as collateral and migrate post-trade activity to XRP Ledger.</li></ul>

Ripple acquires Hidden Road in $1.25B deal to expand institutional crypto services

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