Ripple Completes $1.25B Acquisition of Hidden Road, Rebrands It as Ripple Prime

Deal Summary

Ripple has completed its acquisition of global prime broker Hidden Road for $1.25 billion and rebranded the business as Ripple Prime. The deal expands Ripple into institutional prime brokerage and supports greater use of its stablecoin RLUSD and XRP in institutional collateral and services.