Ripple deploys $1.25bn to become first crypto company with global broker

Group 1: Acquisition and Business Expansion - Ripple has completed a $1.25 billion acquisition of Hidden Road, becoming the first crypto company to own a global prime broker, now rebranded as Ripple Prime [1] - Ripple Prime's business has grown threefold since the acquisition announcement in April [1] - Ripple has made five major acquisitions in the past two years, including a recent $1 billion deal for GTreasury [7] Group 2: Institutional Finance and Market Position - Owning a prime broker positions Ripple at the center of institutional finance, controlling access to leverage and risk management [2] - The acquisition allows Ripple to ensure that its digital assets, particularly XRP and RLUSD, receive similar treatment as traditional assets like stocks and bonds [3] - Ripple's CEO stated that the company is at an inflection point for the next phase of digital asset adoption [3] Group 3: Stablecoin Utility and Market Standing - RLUSD is being utilized as collateral for prime brokerage products, indicating increased utility for the stablecoin [4] - Despite its regulatory compliance and being ranked as the number one stablecoin for stability, RLUSD has fallen to 20th place in the $308 billion stablecoin market, with a market value of $898 million [5] - The Bank of New York Mellon has been announced as the primary reserve custodian for RLUSD, highlighting Ripple's commitment to institutional and regulatory standards [6]