Today, @Ripple announced the acquisition of Hidden Road for $1.25B, one of the largest deals ever in the crypto space. But the price tag isn’t what’s most important – it’s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa.
Prime brokers (along with other key functions historically managed by banks for the most part) 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 been a customer of Hidden Road for years, and we know their breadth of expertise firsthand, clearing $3 TRILLION annually for 300+ of the top financial institutions globally.
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. Instead of waiting for <24 hours to settle trades through fiat rails, Hidden Road will be using XRPL for clearing a portion of trades, and most consequentially, using RLUSD as collateral across its prime brokerage services, including cross-asset (crypto and traditional instrument) trades.
With this deal and the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally.
Ripple and Hidden Road combined are a generational leap forward, ready to truly bring the worlds of traditional and decentralized finance
We’re reaching out on behalf of the vibrant $BRISE community. Since we entered the world of #DeFi alongside other projects in 2021, we've worked hard to create a positive and engaging environment that unites supporters from all walks of life. Our journey has been driven by passion, creativity, and a shared vision.
As we approach 2024, we are filled with hope and excitement for what’s ahead. Our #community has grown far beyond what we could have imagined in 2021, thanks to the unwavering support of our members, innovative marketing strategies, and endorsements that resonate with our core values of unity and fun. The enthusiasm surrounding $BRISE is truly palpable, and we feel our momentum is just beginning to build!
We believe that listing $BRISE on your esteemed platforms would not only be a monumental milestone for our community but also an exciting opportunity for your exchanges to connect with this passionate and thriving group. Together, we can continue to champion the spirit of #DeFi and foster a future where engagement, positivity, and innovation flourish.
Thank you for considering our request. We look forward to the potential of listing $BRISE on your platforms and growing together on this exciting journey!
Warm regards and optimism for the future, The $BRISE Community