Ripple has completed a $1.25 billion acquisition of Hidden Road, rebranding it as Ripple Prime, marking a strategic milestone in institutional crypto finance.
This acquisition highlights Rippleโs shift to full-service institutional trading, spurring growth in XRP and RLUSD utility while impacting broader crypto adoption.
Ripple has finalized its acquisition of Hidden Road, rebranding the entity as Ripple Prime. The aim is to provide a one-stop institutional trading and financing platform, focusing on the adoption of digital assets after the $1.25 billion deal closure.
Brad Garlinghouse, Rippleโs CEO, highlighted the acquisition as a strategic move towards digital asset adoption. He described this as โan inflection point for the next phase of digital asset adoption,โ emphasizing the strategic importance of integrating prime brokerage into Rippleโs suite of institutional products. Integration of prime brokerage services aims at enhancing the companyโs existing institutional product offerings, expanding their reach in the crypto-finance sector.
XRP Rallies 5% Following Ripple Prime News
The announcement of Ripple Primeโs launch led to a noticeable 5% rise in XRPโs value, affirming market optimism. The integration of Hidden Road has tripled Ripple Primeโs business scale, attracting over 300 institutional clients, as per official statements. The acquisitionโs implications on the broader market include increased institutional participation in crypto assets. Ripple Primeโs services parallel traditional finance models, potentially enhancing XRP and RLUSD adoption among institutional investors looking for regulated, reliable platforms.
Ripple Mirrors Goldman Sachs in Crypto Approach
Rippleโs venture mirrors traditional finance models like Goldman Sachs, but in the crypto market. This move to consolidate services follows previous fragmented approaches by other companies. Experts suggest the significant investment by Ripple underscores the shifting landscape towards regulated digital asset platforms. The strategic acquisition positions Ripple Prime as a frontrunner in institutional-grade crypto finance, potentially increasing digital asset trust among mainstream investors.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |