Crypto firm Ripple to buy primer broker Hidden Road for $1.25 billion

Crypto firm Ripple to buy primer broker Hidden Road for .25 billion

Key Points

Crypto startup Ripple has agreed to buy prime brokerage firm Hidden Road for $1.25 billion the company’s biggest acquisition to date.
It marks one of the largest deals in the digital asset space to date, topping Stripe’s $1.1 billion deal to buy stablecoin payments platform Bridge.
Hidden Road plans to use Ripple’s RLUSD stablecoin — which launched in December — as collateral across its prime brokerage products.

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