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. ripple.com/ripple-press/r…
@ModernInvest Well it’s just all the biggest things to ever happen in the history of blockchain finally happening. Things that we have seen preached over and over for years like “Mainstream adoption” .. Why would we see the price move?!
Manipulation worse with bigger players now in?
@elonmusk They really should just start being overtly outrageous.. it’d be entertaining at least.. maybe pick up viewers.
“Elon Musk, remote detonates Cybertruck in an attempt to take over the U.S. Government.”
😂
Shido Network mainnet is officially launching 29th March. A new era is beginning with unparalleled opportunities for growth of Shido.
Shido Network features instant finality, 900ms block creation, EVM & WASM execution, Gasfree function, Burn mechanism, IBC connected and more.
Shido Network is uniquely leveraging both EVM and WASM execution. Combined with instant finality, 900ms block creation and a throughput of 10,000 TPS.
Almost inexistent gas fees makes Shido Network the ideal blockchain for large scale DeFi applications, Gaming, NFTs and more.
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