The Skull of Satoshi was originally built to call attention to blockchain energy usage, and today it’s a symbol and reminder of Bitcoin’s incredible staying power to many around the world (including me!).
As crypto and blockchain technologies become widely used, respected and understood – it’s past time that we set aside our differences and work together to move the industry forward. I hope this gesture continues to remind folks that we (BTC, XRP, and other crypto communities) have more in common than we think.
Stablecoins are exploding globally for their real-world applications (the sheer amount of recent announcements across crypto, fintech and traditional finance should indicate as such).
The sooner that the US can pass workable, clear rules, the faster it reaps the benefits of this technology.
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