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The cryptocurrency startup Ripple has announced its agreement to acquire the institutional broker Hidden Road for $1.25 billion. This marks Ripple's largest acquisition to date and stands as one of the most significant deals in the digital assets industry, surpassing Stripe's $1.1 billion acquisition of the stablecoin payment platform Bridge. As part of the deal, Hidden Road intends to leverage Ripple's RLUSD stablecoin, introduced in December 2022, as collateral for its institutional brokerage offerings. Ripple emphasized that this acquisition is poised to enhance the cost-effectiveness and liquidity of its cross-border payment services, while also extending custody services to Hidden Road's clientele. The transaction is contingent upon regulatory approval and is anticipated to conclude no later than the third quarter of 2025.
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