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Ripple has announced plans to acquire prime brokerage firm Hidden Road in a $1.25 billion agreement. The deal is one of the largest in the crypto industry to date and will make Ripple the first crypto company to own a multi-asset prime broker.
Hidden Road currently handles over $3 trillion in annual transactions for more than 300 institutional clients. The move will give Ripple direct access to deep trading infrastructure and expand its position in institutional finance. Ripple plans to use Hidden Road’s established client base and trading infrastructure to increase adoption of its technology, while strengthening its role in bridging crypto with traditional finance systems.
Brad Garlinghouse, CEO of Ripple, said the deal comes at the right time for the company and the broader digital asset market.
“We are at an inflection point for the next phase of digital asset adoption – the US market is effectively open for the first time due to the regulatory overhang of the former SEC coming to an end, and the market is maturing to address the needs of traditional finance.
With these tailwinds, we are continuing to pursue opportunities to massively transform the space, leveraging our position and the strengths of XRP to accelerate our business and enhance our current solutions and technology.”
The integration will bring together Ripple’s blockchain platform and the XRP Ledger with Hidden Road’s financing and clearing services, aiming to lower transaction costs and simplify trade execution for clients.
Marc Asch, CEO of Hidden Road, highlighted how the deal would support the company’s future expansion.
“With new resources, licenses, and added risk capital, this deal will unlock significant growth in Hidden Road’s business, allowing us to increase capacity to our customer base, expand into new products, and service more markets and asset classes.
Together with Ripple, we’re bringing the same level of trust and reliability that institutional clients are accustomed to in traditional markets — designed and optimized for a digital world.”