Today, @Ripple announced the acquisition of Hidden Road for $1.25B, one of the largest deals ever in the crypto space. But the price tag isn’t what’s most important – it’s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa.
Prime brokers (along with other key functions historically managed by banks for the most part) like Hidden Road have proven themselves as *the* trusted intermediary for the largest hedge funds, market makers, OTC desks, quant traders and more. Ripple has been a customer of Hidden Road for years, and we know their breadth of expertise firsthand, clearing $3 TRILLION annually for 300+ of the top financial institutions globally.
This is the capital and activity that will tap into XRP and the XRP Ledger’s bread-and-butter – instant, efficient, scalable and low cost movement of value. 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.
With this deal and the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally.
Ripple and Hidden Road combined are a generational leap forward, ready to truly bring the worlds of traditional and decentralized finance together. https://t.co/UYOOyQ21dG
This is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it.
The future is bright. Let's build.
@NoValhalla4You @JohnGh87 @Earlswood13 Also I was disappointed that not a single question from the AMA form they made so much noise about was answered or even raised ….
@NoValhalla4You @JohnGh87 @Earlswood13 Atleast they let him speak & ask questions that are valid and somewhat aligned to the real questions people want answers too. I mean the guy Earl has blocked me for some reason so I suppose he’s the GRV authorised/filtered representative of the GRV community
@JohnGh87 @Earlswood13 2/
I appreciate Carlo’s promotion was a way of starting a fresh and moving forward from the elephant and I hope from this point on GRV will shoot straight and true.
Thanks for all your efforts @CarloDCGT I look forward to the future under your leadership
@JohnGh87 Thank you @Earlswood13 for asking 80% of the tough questions that the OG investors wanted to know!
It’s a shame the elephant in the room was avoided completely and as a large investor in GRV I don’t want to FUD my own investment but it does leave questions.