Ripple announced the purchase of a landing and brokerage platform for Hidden Road institutions for $ 1.25 billion.
According to the press release, the transaction is one of the largest in the field of digital assets. It will strengthen the position of the ecosystem, including the RLUSD stablecoin, the XRPL blockchain and the Ripple Payments service.
Closing the transaction is expected in the coming months after the approval of the regulators.
Ripple became the first cryptocurrency company to own and controls the global multidisciplinary prime-striper, representatives of the project noted.
Hidden Road processes operations for $ 3 trillion per year and serves more than 300 institutional customers. Ripple plans to use the resources and licenses of a new subsidiary to scale business and enter new markets.
According to the founder and CEO Hidden Road, Mark Asha, the transaction will expand the offer of new products and classes of assets.
Ripple said that Hidden Road would use Rlusd as a collateral, which will make stablecoin the first to provide effective cross-margin trade between traditional and digital assets.
Hidden Road post -trading activity will also be transferred to XRPL, which will strengthen the user base base.
The head of the Ripple Brad Garlinghaus called the deal an important step towards expanding institutional participation in the digital economy.
XRP growth
According to the Standard Chartered report, by 2028 the cost of token can jump up to $ 12.5, writes Coindesk. By the end of 2025, height is expected to up to $ 5.5, and by 2026 – up to $ 8. Analysts predict that the XRP course will continue to increase against the background of high demand for cross -border payments.
The report noted: XRPL assumes the role of an “accelerator” of international translations – approximately the same as stablecoins. This makes XRP an important tool for financial transactions outside traditional banking systems.
The Standard Chartered sees in an increase in the asset potential similar to bitcoin. An additional driver will be changes in the leadership of the US Securities and Exchange Commission (SEC). The possible approval of exchange funds based on Ripple token will also have a positive impact.
Among the problems of XRPL, analysts identified a limited number of developers and a low level of “cost extraction”. However, these factors are compensated by the growing interest in the tokenization of assets and the expansion of potential in the field of digital payments.
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Source: Cryptocurrency
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