Ripple-Backed Hidden Road Obtains Broker-Dealer License to Strengthen Institutional Crypto Services

Hidden Road, a financial services firm backed by Ripple, has successfully secured a broker-dealer license, marking a significant step in its expansion into institutional cryptocurrency markets. The regulatory approval enables the firm to offer enhanced trading and custody solutions tailored for institutional clients, further bridging traditional finance with digital assets. This move aligns with Ripple’s broader strategy to foster institutional adoption of blockchain-based financial services while complying with global regulatory frameworks.

Ripple acquisition and institutional expansion

Rippleof Hidden Road on April 8, describing it as the largest deal in its history. The acquisition positioned Ripple as the first crypto-native firm to own and operate a multi-asset prime brokerage platform with an established institutional network.

Ripple CEO Brad Garlinghouse called the transaction a “once-in-a-lifetime opportunity” to connect traditional financial markets with blockchain-powered ecosystems. 

Ripple said that Hidden Road’s infrastructure will accelerate institutional adoption of blockchain-based financial services, broadening its service offerings into trade clearing, financing, custody, and risk management.

Ripple plans to deploy its RLUSD stablecoin as collateral for cross-asset trades within Hidden Road’s brokerage services as part of the integration. Hidden Road will also use the XRP Ledger to facilitate faster trade settlements, aiming to cut settlement times from hours to minutes and reduce operational costs.=