Crypto firm Ripple to buy broker -brick, hidden road for $ 1.25 billion

Ripple said on Tuesday that she agreed to buy a $ 1.25 billion hidden road, in the biggest acquisition of the crystance to date.

Founded in 2018, Hidden Road offers cleaning, main brokerage and financial currency services, digital assets, derivatives, swaps and fixed income. Currently, it clears more than $ 3 trillion annually in markets with more than 300 institutional clients, including hedge fund.

The acquisition notes one of the largest deals in the digital asset space today, leading Stripe 1.1 billion in February to buy Bridge, a platform that facilitates payment companies through Stablecoins.

Ripple CEO Brad Harlinghaus said the transaction had gathered after the hidden road was “restrained” in growth from the balance restriction and began looking for external capital.

“This is a big deal for Ripple – but also a big deal for this industry,” said Garlinghouse CNBC by phone.

Ripple, which was last estimated at $ 11.3 billion in the ransom of 2024, said after closing the transaction plan would be hidden the road to use your Rlusd Stablecoin – which Launched in December – as the maintenance of the main brokerage products of the company.

“Positive is a key” in Prime Brokerage Services, Harlinghaus said. Hedge Funds and other institutional investors usually require a loan or sophisticated trading position, For example, a short sale.

The acquisition of Ripple on the hidden road remains the necessary regulatory. Garlinghouse said CNBC that it expects the deal to close no later than the third quarter of 2025.

Ripple scored the Great Victory last month when American securities and stock papers decreased a protracted legal case against the company What accused him of carrying out illegal securities offers.

The crypt industry was usually reinforced by Donald Trump’s re -election as a US president who has advertised the benefits of crying and promised a favorable policy for the industry.

Asked if this is a more scripted environment that gave Ripple to add impetus to its main brokerage, Harlinghaus said “similar deals are much more meaningful if you have supportive regulation-in difference from the legal tactics of open war.”

Earlier, the Crypto -teacher was critical of the SEC and his former leader Gary Gensler, who oversaw aggressive legal acts against several crypto -firms, including Ripple.