Ripple Acquires Hidden Road for $1.25 Billion, Expanding Its Reach in Crypto Brokerage
Ripple has announced the acquisition of Hidden Road, a leading crypto-friendly brokerage firm, in a groundbreaking deal valued at $1.25 billion.
This move positions Ripple as a pioneer in the digital assets space, marking the company’s entry into the world of multi-asset primary brokerage services.
The Deal and Ripple’s New Strategic Advantage
The acquisition will be primarily settled in cash, XRP tokens, and company stock, and is expected to close within the next few months, pending regulatory approval. This acquisition stands as one of the largest in the crypto industry, further solidifying Ripple’s position as a dominant player in the digital asset ecosystem.
With this deal, Ripple becomes the first cryptocurrency company to own and operate a global, multi-asset primary brokerage firm. Hidden Road is known for providing a range of advanced services to institutional clients, including clearing, prime brokerage, and financing across various sectors such as foreign exchange (FX), digital assets, derivatives, swaps, and fixed income.
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Hidden Road’s Growth and Ripple’s Vision for XRPL
Hidden Road is one of the fastest-growing primary brokerages globally, handling a staggering $3 trillion in annual trades and serving over 300 institutional clients. As part of the acquisition, Ripple will integrate Hidden Road’s post-trade activities into the XRP Ledger (XRPL), enhancing operational efficiency and reducing costs. This move also underscores Ripple’s ambition to position XRPL as the blockchain of choice for enterprise decentralized finance (DeFi).
Additionally, Hidden Road plans to use Ripple USD (RLUSD) as collateral in its primary brokerage products, further expanding Ripple’s role in institutional crypto services.
Ripple CEO Brad Garlinghouse’s Statement
Ripple CEO Brad Garlinghouse expressed his excitement about the acquisition, stating, “We are at an inflection point for the next phase of digital asset adoption. The U.S. market is effectively open for the first time due to increased regulatory clarity, and the market is maturing to meet the needs of traditional finance.”
Garlinghouse emphasized that the acquisition aligns with Ripple’s long-term goals to transform the crypto space and accelerate business growth, leveraging XRP’s strengths to enhance existing solutions and technology.
This acquisition marks a significant step in Ripple’s broader strategy to capitalize on the growing digital asset market and position itself at the forefront of the evolving financial landscape.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
