Ripple has announced the purchase of a multidisciplinary prime-striper Hidden Road for $ 1.25 billion. The transaction has become one of the largest digital assets in the industry.

Ripple Director General Brad Garlinghouse (Brad Garlinghouse) noted that the US market is becoming more and more open to crypto assets due to the softening of regulatory restrictions. According to him, the acquisition of Hidden Road is aimed at maintaining institutional acceptance of digital currencies and creating a reliable infrastructure that will connect traditional finances and decentralized technologies.

Garlinghaus said this would strengthen the Ripple position on the crypto. Firstly, Hidden Road will gain access to significant financial resources of Ripple, which will help the company to become the largest non-banking prime-striper in the world. Secondly, the Ripple USD (RLUSD) stablecoin will be integrated into Hidden Road products as ensuring, which will increase its utility and provide communication between traditional and digital markets.

Hidden Road annually performs clearing operations in the amount of about $ 3 trillion, works with more than 300 leading institutional customers, and also ensures the correct execution and accounting of transactions in the field of foreign exchange market, digital assets, derivatives and other financial instruments.

Within the framework of the transaction, Hidden Road will transfer its post -chamber operations on the XRP Ledger (XRPL) blockchain, which will reduce costs and increase efficiency. Ripple, in turn, will be able to optimize solutions for cross -border payments and offer customers Hidden Road to store digital assets of the banking level.

Earlier, Brad Garlinghaus said that the technology of blockchain and cryptocurrencies can significantly improve international payments and the global financial market.