Ripple CEO Brad Garlinghouse discussed the rapid growth of Hidden Road, acquired by Ripple, and their impact on financial markets in a recent episode of ‘Crypto In One Minute’.
Growth of Hidden Road in DeFi
In the ‘Crypto In One Minute’ video, Brad Garlinghouse talked about prime brokers’ roles in facilitating financial services for institutional investors. He mentioned that Hidden Road, acquired by Ripple, is offering clients both traditional financial tools and DeFi opportunities. According to Garlinghouse, this company is well-capitalized and demonstrates rapid growth in both sectors.
Large XRP Transaction
A substantial XRP transaction worth $108,305,198 was recently detected, transferred between two anonymous wallets. According to analytics account @XRPwallets, this transaction was part of Ripple's operations between its own wallets intended for ETPS, trust funds, and other investments.
Market Prospects
Garlinghouse expressed hope that in the future, more prime brokers will actively engage with cryptocurrencies, allowing more traditional financial institutions to enter the DeFi segment and utilize crypto assets.
In his speech, Brad Garlinghouse emphasizes the significance of Hidden Road in expanding DeFi opportunities for traditional financial institutions and showcases Ripple's activity in the XRP market.
