Ripple acquires broker Hidden Road for 1.25 billion dollars, will integrate RLUSD stablecoin

Golden Finance reports that, according to Catenaa, Ripple has announced the acquisition of major global broker Hidden Road for $1.25 billion, becoming the first cryptocurrency company to own and operate a multi-asset principal brokerage business worldwide. Hidden Road clears over $3 trillion annually and serves more than 300 institutional clients.

According to reports, Hidden Road will migrate its post-trade business to the XRP ledger while Ripple's stablecoin RLUSD will be integrated into Hidden Road's collateral system for use in digital assets and traditional market cross-margining. Ripple CEO Brad Garlinghouse stated that as the US regulatory environment becomes clearer and market infrastructure matures, this acquisition is significant for digital asset adoption. Previously, Ripple had reached a settlement with the U.S Securities Exchange Commission (SEC) by paying a fine of $50 million.