Ripple has revealed its acquisition of prime brokerage firm Hidden Road for $1.26 billion. This transaction will enable the crypto payment company to access a broader array of traditional markets as it aims for seamless cross-border payment solutions. Throughout this year, Ripple has formed partnerships with significant firms and institutions to enhance adoption.
Ripple is Exploring New Opportunities
As stated in the announcement, this deal, one of the largest in the digital asset sector, will facilitate the growth of both companies. Ripple’s subsidiaries will enter new markets as traditional firms show an increasing interest in crypto assets. Hidden Road processes approximately $3 trillion annually for leading financial institutions and will utilize XRP’s Ledger to provide faster and more efficient services. The XRPL is recognized for its rapid and scalable infrastructure within the crypto space. Ripple CEO Brad Garlinghouse emphasized that this acquisition is a significant milestone for the company, highlighting the necessity of the right infrastructure to support traditional firms. “This is the capital and activity that will leverage XRP and the XRP Ledger’s core strengths – instant, efficient, scalable, and low-cost value transfer. Instead of waiting for…
