Ripple now a one-stop fintech shop after closing Hidden Road acquisition
Ripple has successfully acquired Hidden Road, rebranding it as Ripple Prime, effectively expanding its fintech services for institutional clients. This acquisition, valued at $1.25 billion, allows Ripple to operate a multi-asset prime broker, facilitating services like clearing, financing, and brokerage across digital assets and various financial products. Ripple Prime has already seen its business activity grow threefold since the announcement in April. The acquisition enhances the utility of Ripple's RLUSD stablecoin, integrating it into the new business operations. Ripple aims to incorporate blockchain capabilities into Ripple Prime to increase efficiency and reduce costs. This move follows other strategic acquisitions, including GTreasury and Rail, signifying Ripple’s broader push to enhance its offerings in the blockchain and crypto space, making it a significant player in the market.
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