15 April | Other

XRP gains institutional momentum after $1.2 billion deal

XRP gains institutional momentum after $1.2 billion deal

Ripple, the issuer of the XRP cryptocurrency, has announced the acquisition of brokerage platform Hidden Road, which previously managed transactions worth over $3 trillion a year for more than 300 institutional clients. The deal carries a valuation exceeding $1.2 billion.

With the integration of XRP Ledger, Hidden Road will be able to process a portion of currency, derivatives, and clearing transactions on the blockchain, using stablecoins as collateral when necessary.

According to Ripple CEO Brad Garlinghouse, replacing traditional currencies with XRP will significantly reduce transaction processing time, especially for cross-border transfers.

The acquisition strengthens Ripple's position as an infrastructure provider for traditional finance and could accelerate institutional adoption of blockchain-based solutions. While the impact on the XRP price in the short term may be limited, the long-term consequences for the ecosystem are estimated to be positive, The Motley Fool reports.

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