Ripple Seals $1.25 Billion Hidden Road Deal Amid Acquisition Streak

Core Insights - Ripple has completed its acquisition of Hidden Road for $1.25 billion, marking it as the first crypto firm to own a global multi-asset prime broker [1][2][3] - The newly formed entity, Ripple Prime, will provide institutional clients with services including clearing, financing, and access to various markets such as foreign exchange, derivatives, fixed income, and digital assets [3][4] - Ripple's digital asset ecosystem, including the XRP Ledger and RLUSD stablecoin, will be integrated into Ripple Prime's offerings, enhancing the services available to clients [3][4][5] Company Strategy - The acquisition is part of Ripple's strategy to support institutional adoption of digital assets, leveraging synergies between Ripple's existing infrastructure and the new prime brokerage services [5] - Ripple has been actively acquiring companies to deepen its integration into traditional finance, with the recent purchase of GTreasury for $1 billion being the third major acquisition this year [6]