Ripple has finalized its acquisition of Hidden Road, now known as Ripple Prime. This strategic decision is set to enhance its fintech solutions aimed at institutional clients, as well as increase the utility and adoption of its RLUSD stablecoin.

With the acquisition, Ripple claims the title of the first cryptocurrency firm to operate a multi-asset prime broker. This venture encompasses various services including clearing, financing, and brokerage across diverse sectors such as digital assets, derivatives, swaps, foreign exchange, and fixed-income products for institutional clients.

Since the announcement of the $1.25 billion acquisition earlier this year, activities under Ripple Prime have surged threefold. Ripple anticipates continued growth, fueled by both new clients and existing business.

Ripple Aims to Integrate Blockchain Technology

Ripple, also the entity behind the XRP (XRP) token, has stated that its recent acquisition will greatly enhance the reach and effectiveness of its Ripple USD (RLUSD) stablecoin. “Ripple’s foundational digital asset infrastructure across payments, crypto custody, and stablecoin, in addition to the utilization of XRP, will add significant value to the services offered by Ripple Prime,” the company noted.

In the future, Ripple plans to incorporate blockchain technologies into Ripple Prime to enhance efficiency and reduce costs. The expected integration of RLUSD into their operations will play a pivotal role in this transition, with some derivative clients already opting to hold balances in this stablecoin as collateral for several prime brokerage services.

Ripple’s Ongoing Acquisition Strategy

This acquisition follows Ripple’s recent purchase of treasury management system provider GTreasury and the stablecoin-driven payment platform Rail. The company’s aggressive acquisition strategy has resulted in six significant deals within the past 28 months, allowing it to expand its range of blockchain and crypto offerings to institutional clients.