Ripple Acquires Hidden Road for $1.25 Billion, Bridging Crypto and Customary Finance
Ripple, a major player in the crypto world, has bought Hidden Road for $1.25 billion. This move shows how crypto and traditional finance are coming together. Nic puckrin, a crypto expert, sees this as a positive step for Ripple’s blockchain use and XRP’s value.
The deal, expected to close by Q3 this year, involves mostly cash, with some XRP tokens and Ripple stock. Hidden Road, founded in 2018, managed $3 trillion in fund transfers in 2024. Puckrin notes that attitudes toward crypto have changed as its early days.
XRP now has a market cap of $126 billion. Hidden Road will explore blockchain for faster settlements, a feature traditional finance hasn’t fully adopted yet. The acquisition follows Hidden Road’s search for capital after initial support from firms like Castle Island Ventures and Coinbase Ventures.
When asked about Ripple’s future plans, Puckrin believes Ripple isn’t aiming to compete with banks like JPMorgan Chase. Rather, it’s becoming a crucial part of financial infrastructure. using XRP for the deal sets a precedent for other projects.
Key metrics to watch include transaction fees and settlement volumes. The new U.S. administration’s favorable crypto regulations and more crypto IPOs signal a shift. While some worry about diluting crypto’s decentralization, Puckrin sees a split between retail speculation and institutional involvement.
This convergence may mean crypto firms must follow the same rules as banks. But if they do,it could lead to mainstream adoption and improvements in legacy financial systems.
