A $ 1.25 billion deal for the hidden road

Ripple agreed to obtain the multi -asset multi -asset Hidden Road for $ 1.25 billion, which represents one of the largest integration and purchase deals in the digital asset industry so far.

Coindesk reported that the hidden road was in Active acquisition talks Last week.

Hidden Road wipes more than 3 trillion dollars annually by spending foreign currencies, derivatives, digital assets and fixed income markets, with more than 300 institutional customers, According to a press statementWhich did not specify the conditions for financing the deal.

The agreement comes hot in the wake of the deal last month by Crypto Exchange Kraken to buy ninjatraderFutures trading platform in the United States, for $ 1.5 billion. A few encryption deals with the announced values ​​were one billion dollars. Among them, the payment tape ended a deal to buy a stablecoin platform Bridge for $ 1.1 billion last year. In 2021, Galaxy Digital (GLXY), a financial services company for coding, agreed to buy a BITGO nursery for $ 1.2 billion in A. Treat it to abandon it Shortly after a year.

“With openness in the American market recently and the digital assets of institutional adoption are ripe, this is a turning point,” said Brad Garlinghyus, CEO of Ripple in a statement.

“We are quick to expand, benefit from XRP and our broader solutions to bring traditional financing and encryption together,” Garlinghyus added.

Ripple said it will pump the new capital into Road Hidden Tox to expand clearing, main mediation and financing, with the aim of making the company the largest major mediator non -bank in the world.

The deal also enhances Ripple’s Stablecoin. Hidden Road Stablecoin will be used by the US dollar, RLUSD, as a guarantee via the main mediation platform. This makes RLUSD the first stablecoin allows the effective margin between traditional and digital asset markets, Ripple said.

Hidden Road also plans to deport post -trade operations to Professor XRP (XRPL), with the aim of reducing costs and simplifying settlements. Ripple expects to display the XRPL step and Blockchain has been improved for the use of Defi’s institutional use.

Ripple, who participated in the B Hidden Road, a client of her platform, said the deal is expected to be closed in the coming months pending organizational approvals. The company currently has more than 60 regulatory licenses in the world.

Read more: A main intermediary of encryption in active acquisition talks: sources

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Update (April 8, 15:30 UTC): The fourth paragraph adds with $ 1 billion acquisitions.