Ripple преобразует Hidden Road в Ripple Prime, расширяя свои услуги на рынке цифровых активов Headline: Ripple Transforms Hidden Road into Ripple Prime, Expanding Its Services in the Digital Asset Market

The company Ripple finalized its acquisition of the non-bank prime broker Hidden Road, subsequently rebranding it as Ripple Prime.

According to a statement, Ripple has become the first entity in the cryptocurrency sector to own and operate a multi-faceted professional intermediary that provides institutional investors with a comprehensive approach to trading digital assets. The platform’s services encompass clearing, brokerage, and transaction financing in foreign exchange, derivatives, cryptocurrencies, and fixed-income instruments.

Since the announcement in April regarding the $1.25 billion purchase of Hidden Road, the business of the platform has tripled, as stated by the fintech firm.

The company anticipates that Ripple Prime will significantly enhance the adoption of the stablecoin RLUSD by enabling its use as collateral for various brokerage products. Some clients operating in derivatives have already switched to holding balances in the «stablecoin.» The firm expects to see an increase in this metric in the coming months.

Ripple’s foundational infrastructure, which includes payments, cryptocurrency storage, and the use of the XRP token, is expected to complement the services provided by the prime broker. Ripple Prime aims to leverage blockchain capabilities to optimize operations and reduce costs.

This acquisition marks Ripple’s fifth major purchase in the last two years, following the acquisitions of cryptocurrency custodians Metaco and Standard Custody, the stablecoin platform Rail, as well as the treasury firm GTreasury.

Over the past 24 hours, the price of XRP has increased by over 4%, showcasing the best performance among the top 10 cryptocurrencies by market capitalization. The token is currently trading at $2.55.

The market supply of RLUSD has exceeded $900 million. The coin ranks 15th in the stablecoin segment, which has a total volume of over $300 billion.

In August, Ripple expanded its collaboration with SBI Holdings to promote RLUSD in Japan.