Key Takeaways
- •Ripple has officially acquired Hidden Road for $1.25 billion, launching the new institutional platform, Ripple Prime.
- •This move is designed to enhance the utility of XRP and RLUSD within a new institutional framework.
- •Ripple has become the first cryptocurrency company to own a global, multi-asset broker.
Ripple has formalized its acquisition of Hidden Road for $1.25 billion, launching Ripple Prime to expand institutional crypto offerings.
This marks a pioneering move in crypto brokerage, enhancing XRP and RLUSD utilization, signaling increased institutional engagement.
Ripple launched Ripple Prime after acquiring Hidden Road for $1.25 billion, marking a significant institutional expansion.
This acquisition positions Ripple as the first crypto firm with a global multi-asset broker, boosting market credibility.
Ripple's $1.25 Billion Acquisition Strategy
Ripple has acquired Hidden Road for $1.25 billion, rebranding it as Ripple Prime. This move aligns with Ripple's goal of becoming a unified institutional platform for digital assets.
Brad Garlinghouse is at the helm of this initiative, leading the transition to better integrate XRP and RLUSD. Marc Asch continues to play a crucial role post-acquisition. "We are at an inflection point for the next phase of digital asset adoption," emphasized Garlinghouse, stating that this move positions Ripple as "the first crypto company to own and operate a global, multi-asset prime broker."
XRP Utility Gains New Institutional Role
The acquisition is expected to boost XRP utility, with increased usage as collateral in institutional frameworks. Ripple Prime integrates both digital and traditional markets under a single platform.
The $1.25 billion deal signals a strong financial maneuver, with Ripple aiming to triple business expansion. Positive institutional feedback suggests increased demand for XRP and RLUSD.
We are at an inflection point for the next phase of digital asset adoption. This move positions Ripple as the first crypto company to own and operate a global, multi-asset prime broker.
Brad Garlinghouse
Ripple Sets Industry Precedent as Multi-Asset Broker
No other crypto companies have operated a global, multi-asset prime broker at Ripple's scale, marking it a historic first in the industry. Comparable efforts by companies like Coinbase are more limited.
The acquisition may inspire increased DeFi exposure and broader institutional adoption as more organizations utilize Ripple's offerings, potentially spurring new trends in digital asset management.