Ripple, a popular crypto payment service firm and the founder of XRP, the world’s fourth largest cryptocurrency, has struck a deal with Hidden Road, a famous global multi-asset prime broker. With $1.25 billion, Ripple is acquiring Hidden Road in one of the largest purchase deals in the crypto ecosystem.
Today, Ripple announced it is acquiring Hidden Road for $1.25B– becoming the first crypto company to own and operate a global, multi-asset prime broker. Together, Ripple and Hidden Road are bringing the promise of digital assets to institutional customers at scale, bridging…
— Ripple (@Ripple) April 8, 2025
Concluding the deal, Ripple will become the first crypto firm to own and operate a global, multi-asset prime broker.
Hidden Road claims to be one of the world’s best prime brokers and a good platform for institutional investors. It offers a wide range of services, such as foreign exchange financing, digital asset swapping, derivatives trading, and more.
Ripple and Hidden Road Forms Alliance
Remarkably, the deal settlement will be diversified to include XRP tokens, company stock, and cash. The asset combination offers benefits for both parties, including the potential for future growth in the price of XRP.
According to an official release by Ripple Labs, the deal aims to connect traditional finance (TradFi) with decentralized finance (DeFi). It will integrate digital assets into Hidden Road’s services, exposing institutional investors to the crypto ecosystem.
Iterating what it plans to accomplish with the contract, Ripple’s CEO, Brad Garlinghouse, said:
“The US market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance. With these tailwinds, we are continuing to pursue opportunities to massively transform the space, leveraging our unique position and strengths of XRP to accelerate our business and enhance our current solutions and technology.”
Ripple’s XRP Rises
Due to the general crypto market downtrend, XRP reached its five-month low of $1.62 last weekend. However, on the day of the Hidden Road acquisition announcement, the crypto saw a 20% price surge to $1.97. At press time, XRP has settled around the $1.9 range.
Meanwhile, the U.S. Securities and Exchange Commission (SEC) has withdrawn its four-year-old lawsuit against Ripple. Similarly, Ripple has agreed to withdraw its case against the SEC and pay a $50 million fine.
