Hidden Road Gets Green Light from Regulators Just Days After Ripple's $1.25B Acquisition!

FINRA License Powers Up Hidden Road's Services

Boom! Hidden Road, the non-bank brokerage firm that just got snatched up by Ripple, has now been handed a shiny new broker-dealer license by the Financial Industry Regulatory Authority. This game-changer lets them ramp up their prime brokerage, clearing, and financing services for fixed-income assets, hitting a broader swath of institutional investors right where it counts.

President Kimmel Pumped for Expanded Reach

Noel Kimmel, the big boss at Hidden Road, is all in on this move, saying it "enables us to transact a much broader universe of customers." Talk about breaking boundaries!

Ripple's Acquisition and Integration with XRP Ledger

Hold onto your hats—Hidden Road got that FINRA stamp just days after Ripple swooped in with a massive $1.25 billion acquisition deal. Now, they're set to use Ripple's RLUSD stablecoin as collateral for their prime brokerage services and shift their post-trade activities onto the XRP Ledger. It's all about that seamless integration!

Ripple CEO Sees a Massive Opportunity

Brad Garlinghouse, the head honcho at Ripple, is fired up, declaring the "deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa." With Hidden Road clearing over $3 trillion annually across more than 300 institutions, Ripple is ready to funnel that massive volume right through the XRP Ledger.

Hidden Road's Competitive Edge

For Hidden Road, tapping into Ripple’s RLUSD stablecoin and settling trades via the XRP Ledger means they can deliver faster, cheaper clearing services. This move puts them in the pole position as a top-tier non-bank prime broker.

Settlement Speeds Skyrocket with XRP Ledger

"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," Garlinghouse exclaimed. Now that's some serious speed!

Ripple's $1.25B Deal Shakes Up Crypto Space

Today, Ripple dropped the bombshell of acquiring Hidden Road for a whopping $1.25 billion—one of the biggest deals we've seen in the crypto world. But it's not just about the cash; it's about opening doors to the most trusted markets on the planet.

Future Plans: Expanding Product Offerings

Looking ahead, Hidden Road isn't slowing down. They're gearing up to roll out fixed-income repurchase agreements and global funding services later this year, leveraging Ripple’s balance sheet and resources. Get ready for a whole new level of service!