Ripple Acquires Hidden Road: $1.25B Deal
- Ripple has announced its acquisition of Hidden Road, a prime brokerage, for $1.25 billion.
- Hidden Road, established in 2018, handles over $3 trillion in transactions each year.
- According to Ripple CEO Brad Garlinghouse, the acquisition is well-timed, as the U.S.market is now more accessible due to reduced regulatory uncertainty. This follows Ripple's 2024 settlement with...
Ripple just acquired Hidden Road for a staggering $1.25 billion—a pivotal move that instantly amplifies its reach within the crypto market. This strategic acquisition positions Ripple as a frontrunner, marking a significant step in expanding its stablecoin, RLUSD, and overall ecosystem. Hidden Road, with its handling of trillions in annual transactions, is set too migrate post-trade activities to the XRP Ledger, enhancing decentralized finance accessibility for institutional clients. News Directory 3 is following this story closely. How will this groundbreaking deal reshape the future of digital assets? Discover what’s next as Ripple aims to dominate the non-bank prime brokerage landscape.
Ripple Acquires Hidden Road for $1.25B in Major Crypto Expansion
Updated May 26, 2025
Ripple has announced its acquisition of Hidden Road, a prime brokerage, for $1.25 billion. this move positions Ripple as a key player in the digital assets space, making it the first cryptocurrency company to own a global, multi-asset prime brokerage.
Hidden Road, established in 2018, handles over $3 trillion in transactions each year. It provides services such as clearing, financing, and trading across various markets to more than 300 institutional clients. Thes markets include foreign exchange,digital assets,derivatives,swaps,and fixed income.
According to Ripple CEO Brad Garlinghouse, the acquisition is well-timed, as the U.S.market is now more accessible due to reduced regulatory uncertainty. This follows Ripple’s 2024 settlement with the SEC, were the company paid a $125 million penalty after being accused of illegal securities offerings related to XRP sales.
The deal is expected to significantly enhance Ripple’s ecosystem, notably its Ripple USD (RLUSD) stablecoin, which launched in December 2024. Hidden Road will use RLUSD as collateral across its prime brokerage products,making it the first stablecoin to enable cross-margining between digital and customary markets.
Furthermore, Hidden Road intends to shift its post-trade activities to the XRP Ledger (XRPL), showcasing XRPL’s potential for institutional decentralized finance (DeFi).Ripple plans to invest billions from its balance sheet, which includes over $1 billion in cash and $25 billion in digital assets (mostly XRP), to expand Hidden Road’s operations and become the largest non-bank prime broker worldwide. This strategic move underscores Ripple’s commitment to expanding its influence in the digital asset landscape and solidifying its position as a leader in providing innovative solutions for institutional clients.
ripple’s previous investments, including a 1% stake in hidden Road from a Series B round and the $250 million acquisition of Metaco in 2023, highlight its strategy for growth in the evolving digital asset market.
What’s next
With the acquisition complete, ripple aims to integrate Hidden Road’s technology and expertise to further develop its offerings in the digital asset space, focusing on institutional clients and the expansion of its stablecoin, RLUSD.