In April 2025, Ripple and Ondo Finance made significant acquisitions aimed at obtaining broker-dealer licenses in the U.S., opening new opportunities in regulated markets.
Ripple and Ondo Finance Acquisitions
Ripple acquired **Hidden Road** for $1.25 billion, obtaining a broker-dealer license issued by FINRA. This is Ripple's largest deal, aligned with their strategic focus on regulated asset markets. Ondo Finance has also acquired [Oasis Pro](https://www.coindesk.com/business/2025/07/04/ondo-finance-to-buy-sec-regulated-broker-oasis-pro-for-us-tokenized-stock-push), which provides access to essential licenses for dealing with U.S. securities.
Impact on the Tokenized Asset Market
Both companies aim to leverage real asset tokenization technology, which could impact the XRP and Ethereum ecosystems. Ripple is looking to enhance the utility of the XRP Ledger for institutional use cases, while Ondo Finance seeks to expand its tokenization platforms. These moves accelerate access to the U.S. tokenized securities market.
Regulatory Aspects and the Future of RWA
The regulatory focus suggests a strategic race to comply with U.S. securities laws, which may facilitate broader market participation and institutional confidence in digital securities. Nathan Allman, CEO of Ondo Finance, stated, "Saying the vast majority of regulated financial assets will ultimately settle on blockchain rails is 'not a crazy prediction' anymore."
The acquisitions by Ripple and Ondo Finance mark a significant step towards further integration of blockchain technologies into the U.S. financial system and could substantially influence the development of tokenized asset markets.
