Ripple-Backed Hidden Road Secures FINRA Broker-Dealer License, Expanding XRP Ecosystem Reach
Following its $1.25 billion acquisition by Ripple, institutional crypto brokerage Hidden Road has obtained a critical FINRA broker-dealer license – a strategic move expected to accelerate XRP’s institutional adoption through expanded prime brokerage services.
Hidden Road Secures Broker-Dealer License After $1.25B Ripple Acquisition
Hidden Road, a non-bank brokerage firm, has obtained a broker-dealer license from the Financial Industry Regulatory Authority (FINRA) just days after being acquired by Ripple in a $1.25 billion deal. The license enables Hidden Road to expand its prime brokerage, clearing, and financing services across fixed-income assets to a wider range of institutional investors. Noel Kimmel, President of Hidden Road, commented that the move "enables us to transact a much broader universe of customers." As part of the integration with Ripple, Hidden Road will utilize Ripple’s RLUSD stablecoin.
Ripple Supports Launch of New XRP Tracker Fund by HashKey Capital
Ripple Labs Inc, one of the largest digital asset infrastructure firms, is offering the initial investment seed for Asia’s foremost XRP Tracker Fund. This is great news for the embattled digital asset firm and XRP, the fourth-largest cryptocurrency based on market cap. As part of its latest investments, Ripple is supporting crypto fund manager HashKey Capital in the introduction of the HashKey Tracker Fund, which the latter tagged as a “major step in expanding institutional access to XRP”. Ripple is the anchor investor for this project, aiming to inject an influx of institutional capital into XRP.
HashKey Capital Launches XRP Tracker Fund in Asia
Asset manager HashKey Capital has introduced a fund tracking the performance of XRP in Asia, aimed at fostering institutional adoption of the token used in the Ripple network. The HashKey XRP Tracker Fund became available to institutional investors in Asia on Friday. This marks the first of several planned collaborations between HashKey Capital and Ripple Labs. XRP is the fourth largest cryptocurrency by market capitalization, with a total value of $121 billion and a recent trading price of $2.08, up 318% over the past year.
Bitcoin OG Foresees Ripple’s XRP Reaching $24 This Year
Prominent Bitcoin pundit Davinci Jeremic, who was previously skeptical of XRP, has shared a bullish outlook for Ripple’s XRP. In a recent video, he indicated that XRP could potentially hit the $24 mark before the end of 2025. At the time of his prediction, XRP was trading at a multi-year high of nearly $3.40. However, the price of XRP has since dropped in tandem with the crypto market amid the US-Sino trade war.
