Ripple now a one-stop fintech shop after closing Hidden Road acquisition
Ripple has completed its acquisition of Hidden Road, a move that will expand its fintech services for institutional clients and boost the utility and reach of its RLUSD stablecoin.
Ripple has closed its acquisition of non-bank prime broker Hidden Road and rebranded it as Ripple Prime, marking one of the company’s most significant deals to date and substantially expanding its operations beyond the digital assets sector.
Ripple said it is now the first crypto company to own and run a multi-asset prime broker, covering everything from clearing, financing, and brokerage across digital assets, derivatives, swaps, foreign exchange, and fixed-income products for institutional clients.
Ripple Prime’s business activity has already grown threefold since the $1.25 billion acquisition was announced in early April, Ripple said on Friday, adding that more growth from new and existing customers is expected.
