Ripple has announced it will acquire prime brokerage firm Hidden Road for $1.25 billion. The purchase is the most significant for the fintech company. Hidden Road currently clears more than $3 trillion yearly across various markets. The firm also caters to more than 300 institutional clients. The acquisition will see the migration of Hidden Road’s post-trade activity across XRP Ledger (XRPL). The move highlights the Ripple blockchain’s capabilities for institutional use.
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Ripple Leading The Decentralization Movement
Ripple CEO Brad Garlinghouse called the purchase “one of the largest deals ever in the crypto space.“
Despite the large figure, Garlinghouse says the price tag is not the most important part. In an X post, he highlighted how the development presents a “lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa.“
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Garlinghouse also shed light on how Hidden Road’s capital and activity will tap into XRP and the XRP Ledger.
Rally On The Horizon?
If more funds flow through the XRP Ledger, there is the possibility that it will bring more value to the cryptocurrency. Ripple’s latest purchase is another bullish development for the company after its lawsuit was dropped by the SEC. Both developments could lead to a surge in investor confidence. With a pro-crypto administration in the White House, XRP could become the new superpower in the crypto market.
There is also a lot of talk about a potential XRP ETF being launched. An ETF launch could further propel investor confidence and open the door to more institutional money.
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Ripple has positioned itself as a top contender in the crypto space. XRP has also seen an incredible run over the last year. The asset has faced a correction amid global trade wars. Despite the dip, there is a high chance that the cryptocurrency will surge to new highs over the coming months.
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