Ripple укрепляет позиции на рынке с покупкой прайм-брокера Hidden Road за $1,25 млрд Translation: Ripple Strengthens Market Position with $1.25 Billion Acquisition of Prime Broker Hidden Road

The company Ripple has finalized its acquisition of the non-bank prime broker Hidden Road and has rebranded it as Ripple Prime.

As stated in a release, Ripple has become the first entity within the crypto sector to own and operate a multifaceted professional intermediary, offering institutional investors a comprehensive solution for trading digital assets. The platform’s services encompass clearing, brokerage, and financing for transactions in the foreign exchange market, derivatives, cryptocurrencies, and fixed-income instruments.

Since the announcement in April regarding the purchase of Hidden Road for $1.25 billion, the platform’s business has tripled, according to the fintech firm.

The company anticipates that Ripple Prime will significantly enhance the utilization of the stablecoin RLUSD by serving as collateral for various brokerage products. Some clients involved in derivatives trading have already shifted to holding balances in the “stablecoin.” The firm expects further growth in this metric over the coming months.

The core infrastructure of Ripple, which includes payment processing, cryptocurrency storage, and the use of the XRP token, is expected to complement the services offered by the prime broker. Ripple Prime aims to leverage blockchain capabilities in its operations to optimize efficiencies and reduce costs.

This acquisition marks Ripple’s fifth major purchase in the past two years, which also includes the acquisitions of crypto custodians Metaco and Standard Custody, the stablecoin platform Rail, as well as the treasury management company GTreasury.

In the last 24 hours, the price of XRP increased by over 4%, showing the strongest performance among the top 10 cryptocurrencies by market capitalization. The token is trading at $2.55.

The market supply of RLUSD has surpassed $900 million. The coin ranks 15th in the stablecoin segment, which has an aggregate volume of over $300 billion.

As a reminder, in August Ripple expanded its collaboration with SBI Holdings to promote RLUSD in Japan.