<ul><li>Ripple has agreed to acquire Hidden Road, a crypto prime broker, in a deal worth $1.25 billion.</li><li>The acquisition highlights the increasing importance of prime brokers and the growing role of stablecoins.</li><li>Crypto-focused prime brokers have stepped in to meet institutional demand, as traditional banks are hesitant to act as prime brokers in the crypto sector.</li><li>Other billion-dollar crypto prime brokers include FalconX and Matrixport, with more firms entering the space.</li></ul>

Ripple-Hidden Road Deal: Crypto Prime Brokers Leave Banks Behind

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