Main notes
- Hidden Road has been approved to work as a dealer medium.
- 1.25 billion dollars is to be obtained for the acquisition of the company’s growth and access to the company.
- New services target customers of digital and traditional assets.
Hidden Road, a major brokerage company now owned by Ripple Labs, has been approved to work as a mediator. The license, granted by the Financial Industry Regulatory Authority, will allow the company to work more closely with institutional investors.
A new license opens more doors for the hidden road
According to Report from BloombergIt allows approval to the hidden road to expand its services to largest customers. These services include primary mediation, clearing, and fixed -income asset financing.
According to the company’s president, Noel Kimmel, this is an important step in building her platform. He explained that the license now allows them to work with a wide range of customers before.
It should be noted that this step follows the Hidden Road’s efforts to become a full mediation company that does not depend on a traditional banking model. According to the report, adding this license will help the company to serve customers who want to reach both digital assets and traditional markets.
Hidden Road started in 2018 by Mark Ash, a former SAC Capital and Point72 employee. Since its launch, the company has mainly focused on digital assets and foreign exchange.
In 2022, she raised $ 50 million in a funding tour that included large names such as Citadel Securities, Coinbase Ventures and Wintermute. This helped to put the company on the radar of institutions looking for stable partners in the digital space.
Ripple Acquisition gives Redden Road more
Ripple Labs got the Hidden Road for $ 1.25 billion. This is the largest purchase of Ripple so far. Kimmel said the deal will allow Hidden Road to grow faster, thanks to the largest public budget in Ripple. Before the deal, the company faced borders because of its smaller size.
As part of the new plans, Hidden Road Rlusd Stablecoin will be used from Ripple as a guarantee of their services. It also plans to transfer post -trade to Ripple’s XRP LEDGER. These changes will support its goal of improving how trading is settled and managed.
It is important to add that the company was also approved as a fixed income organization member. This will allow to start providing fixed income services, including repurchase agreements and other financing options expected to be launched later in the year.
With these updates, Hidden Road aims to become a strong player for institutions that need to reach digital and traditional markets. After Ripple Labs acquired Hidden Road and its recent approval to work as a mediator, the company looks larger engines.
Ripple has also partnership with Chipper Cash to enter the African market. The goal of this partnership is to speed up the cross -border payments while reducing costs.
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Benjamin Jodfrey is a blockchain lover and journalist who enjoys writing about the real life applications of Blockchain technology and innovations to pay public acceptance and complementarity all over the world for emerging technology. His desire to educate people about encrypted currencies inspire his contributions to the media and famous sites in Blockchain.
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