Ripple acquires Hidden Road in $1.25B deal to expand institutional crypto services
Blockchain technology company Ripple Labs Inc. announced today that it has acquired multi-asset prime brokerage firm Hidden Road Inc. for $1.25 billion.
Founded in 2018, Hidden Road is a prime brokerage firm specializing in over-the-counter services for digital assets. The company offers a range of services, including clearing, prime brokerage and financing across various asset classes, such as foreign exchange, equities, commodities, digital assets, energy and rates.
Hidden Road also operates a global credit network for institutions that gives access to both traditional and digital markets. The company says it offers a conflict-free approach that ensures no competition with clients, avoiding conflicts of interest with…
