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Gate Square New & Returning Creator Rewards are ongoing!
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Ripple acquires brokerage firm Hidden Road for $1.3 billion
Ripple Labs, known for its cryptocurrency XRP, has announced plans to acquire prime brokerage firm Hidden Road for $1.25 billion.
This deal will become one of the largest in the digital asset industry and will allow Ripple to expand its influence in the field of institutional decentralized finance (DeFi).
According to the terms of the agreement, Hidden Road will migrate its post-trade operations to the XRP Ledger, which is expected to streamline processes and increase the use of XRP among institutional clients.
The deal is expected to be completed after obtaining the necessary regulatory approvals.