Ripple completes acquisition of Hidden Road, Hidden Road now renamed Ripple Prime

 Techub News reports that Ripple Labs has completed the acquisition of institutional brokerage firm Hidden Road, which has been officially renamed to Ripple Prime. The company previously provided services such as clearing, prime brokerage, foreign exchange (FX), digital assets, derivatives, swaps, and fixed income financing to institutions. This transaction signifies that Ripple has become the first cryptocurrency company to own and operate a global multi-asset prime broker. Since the acquisition, Ripple Prime's business scale has increased by approximately 3 times, and the company stated that it will further promote the application and coverage of its stablecoin RLUSD in the future, with some derivatives clients already starting to use RLUSD as collateral.