Ripple Acquires Prime Broker Hidden Road for $1.25B in Landmark Crypto Deal

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In a monumental move for the cryptocurrency sector, Ripple has announced the acquisition of global prime brokerage firm Hidden Road in a deal worth $1.25 billion. According to an official press release, this acquisition will position Ripple as the first crypto-native company to own a multi-asset global prime broker.

Hidden Road processes over $3 trillion in annual trading volume and supports more than 300 institutional clients worldwide, the release confirmed. With Ripple’s financial muscle behind it, Hidden Road is expected to dramatically scale its operations, aiming to become one of the largest non-bank prime brokers globally.

Ripple Eyes Digital Asset Expansion Amid Favorable U.S. Regulation

Ripple CEO Brad Garlinghouse emphasized that the digital asset industry is entering a critical growth phase. He pointed to recent pro-crypto regulatory shifts in the United States, particularly under the Trump administration, as opening the door to new opportunities.

“We believe the U.S. market is now more accessible than ever,” Garlinghouse said. “Ripple is leveraging this momentum, along with XRP’s unique advantages, to drive innovation and expand our impact across the financial ecosystem.”

Boosting RLUSD Utility Through Hidden Road Integration

Ripple is also using this deal to enhance the adoption of its USD-backed stablecoin, RLUSD. Since Hidden Road already utilizes RLUSD as collateral, the acquisition brings practical use cases into the spotlight. According to the company, this integration will make RLUSD the first stablecoin to enable seamless cross-margining between traditional finance and digital asset markets.

Hidden Road will transition its post-trade activities to the XRP Ledger (XRPL) as part of the integration, further strengthening Ripple’s blockchain infrastructure. The acquisition will also support the growth of Ripple Payments, providing more robust and scalable solutions for global payment flows.

Hidden Road CEO Highlights Opportunities for Growth

Marc Asch, founder and CEO of Hidden Road, said the acquisition would unlock major potential for expansion:

“With additional licenses, capital, and strategic resources from Ripple, we’ll be able to scale operations, introduce new asset classes, and better serve our global client base.”