Ripple’s $1.25 billion acquisition of prime broker Hidden Road is a “defining moment” for the blockchain payments company, potentially unlocking more use cases for the XRP Ledger among institutions, said David Schwartz, Ripple’s chief technology officer.
“Ripple’s acquisition of Hidden Road is a defining moment for the XRP Ledger and XRP,” Schwartz said on social media on April 8.
Hidden Road is a prime brokerage and credit network with more than 300 institutional customers. On a typical day, it clears more than $10 billion and processes more than 50 million transactions across traditional rails.
“Now imagine even a portion of that activity on the XRP Ledger — and that’s exactly what Hidden Road plans on doing — not to mention future use of collateral and real-world assets tokenized on the XRPL,” said Schwartz.
Source: Ripple
Ripple has long touted the