Ripple’s entry into prime brokerage through its $1.25 billion acquisition of Hidden Road is expected to significantly elevate the utility of XRP and its underlying ledger technology. Speaking on Monday, Ripple Chief Technology Officer David Schwartz described the development as pivotal for the broader XRP ecosystem. He stated on social media platform X:

Ripple’s acquisition of Hidden Road is a defining moment for the XRP Ledger and XRP.

“The prime broker clears upwards of $10B and processes over 50M transactions a day on various traditional rails, waiting up to 24 hours for those transactions to settle. Now imagine even a portion of that activity on the XRP Ledger – and that’s exactly what Hidden Road plans on doing – not to mention future use of collateral and real-world assets tokenized on the XRPL,” he elaborated. Schwartz’s comments point to a fundamental shift in how large-scale financial transactions may soon be conducted using blockchain infrastructure.

Brad Garlinghouse, Ripple’s CEO, elaborated further on the vision behind the acquisition in a post Monday on X. He explained that while the $1.25 billion price tag makes it one of the crypto industry’s biggest acquisitions, the real value lies in bridging traditional finance with blockchain. Garlinghouse emphasized the market reach of the acquired firm: “Prime brokers…like Hidden Road have proven themselves as the trusted intermediary for the largest hedge funds, market makers, OTC desks, quant traders and more.” Ripple has previously been a client of Hidden Road and is familiar with its role in facilitating over $3 trillion in transactions annually for more than 300 top-tier institutions.

The incorporation of XRP Ledger into Hidden Road’s operations is expected to change how value is transferred globally. Garlinghouse noted:

This is the capital and activity that will tap into XRP and the XRP Ledger’s bread-and-butter – instant, efficient, scalable and low cost movement of value.

Hidden Road will not only use XRPL for clearing a portion of its trades but also deploy RLUSD as collateral in multi-asset trading, spanning both digital and traditional markets. Supported by Ripple’s financial resources, the partnership aims to position Hidden Road as the largest non-bank prime broker in the world while turning XRP into a key player in cross-asset financial settlement.

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