The Hiddle Road, the Prime Armagio company, has been purchased by Ripple Labs and received a new license that allowed FINRA to work as a broker-dealers. This development aims to expand the company’s services for corporate investors.
Good news for xrp coin
The new undergraduate license allows the Hidden Road to provide financing services for prime intermediary, Clearing and fixed income assets that provide access to the portfolios of large institutions. The company aims to build bridges between crypto assets and traditional market. In addition, new financing options for fixed income -based products are aimed at commissioning.
Christmas Kimmel (CEO): “The new license is an important step in terms of improving our platform and expanding our customer range.”
Ripple Labs’s purchase of Hidden Road for about $ 1.25 billion has an important place in the company’s growth strategy. The purchase process was recorded as the biggest purchase of Ripple so far. In addition, the company finds the opportunity to work with a wider financial infrastructure means indirect benefit for XRP Coin.
Effect of Ripple Labs
Hidden Road was founded by Marc Asch in 2018 and has been operating in the field of crypto assets and foreign exchange transactions since its establishment. In a financing round held in 2022, he collected approximately $ 50 million with the participation of investors such as Citadel Securities, Coinbase Ventures and Wintermute.
The company’s agreement with Ripple Labs brought about new strategic steps, such as the use of Rlusd Stablecoin as a guarantee and the execution of post-trace transactions through Ripple’s XRP Ledger. This aims to manage commercial transactions more effectively and improve the trade processes.
In addition, the approval of the Hidden Road as a member of the Fixed Income Clearing Corporation also paves the way for the company to provide fixed income services. This development aims to strengthen the access of corporate customers to service between both crypto assets and traditional markets.
Ripple Labs’ cooperation with Chipper Cash is one of the steps taken to bring rapid and low -cost border payments to the African market. This strategic partnership aims to contribute to the acceleration of financial transactions in the region.
Hidden Road plans to provide solutions to corporate investors in both digital and traditional markets with its new license and expanding service perspective. The company tries to increase its competitiveness in the market by implementing its developing strategies.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
