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"🔔"Ripple acquires multi-asset brokerage "Hidden Road" for $1.25 billion

💥Ripple announced its acquisition of the multi-asset brokerage "Hidden Road" for $1.25 billion, in one of the largest mergers and acquisitions deals in the digital currency sector.

⏳"Hidden Road" conducts annual transactions exceeding $3 trillion and serves over 300 institutional clients across diverse markets.

🎖️Brad Garlinghouse, the CEO of Ripple, stated that the deal represents a turning point amid the opening of the U.S. market and the maturation of digital assets.

🎯Ripple aims to inject new capital into "Hidden Road" to expand brokerage and financing operations and enhance its position as the largest global non-bank financial intermediary.

🎯Ripple also seeks to integrate its stablecoin RLUSD into the brokerage services of "Hidden Road", making it the first stablecoin to be used as collateral for margin between traditional and digital markets.

🎯The company also plans to move post-trade operations to the XRP network to reduce costs and streamline settlement.

📝The deal is expected to be completed in the coming months after obtaining regulatory approvals, noting that Ripple holds over 60 global regulatory licenses.