Ripple has announced its acquisition of Hidden Road for $1.25 billion, positioning itself as the first crypto company that owns a global multi-asset prime broker. The deal is expected to close in Q3 2025.
Acquisition Details
Ripple, a leading provider of digital asset infrastructure for financial institutions, has agreed to acquire Hidden Road for $1.25 billion. This marks Ripple's largest acquisition to date and one of the most significant transactions in the cryptocurrency sector in 2025. The closure of the deal is anticipated no later than Q3 2025, subject to regulatory approvals.
Strategic Significance
The acquisition positions Ripple as the first crypto company to own and operate a global multi-asset prime broker. Founded in 2018, Hidden Road offers clearing and financing services and currently serves over 300 institutional clients, including hedge funds.
Market and Operational Impact
The transaction includes integrating Ripple's RLUSD stablecoin into Hidden Road's operations, aiming to enhance its competitive position in the stablecoin market and optimize costs and liquidity for cross-border payments. The integration of the XRP Ledger may also demonstrate Ripple's potential in institutional DeFi.
Ripple's $1.25 billion acquisition of Hidden Road highlights its strategic expansion in the institutional market, opening new avenues for integrating traditional and decentralized finance.
