According to Foresight News, Ripple announced the completion of its acquisition of Hidden Road, which has now been renamed Ripple Prime. Hidden Road previously provided services such as clearing, prime brokerage, forex (FX), digital assets, derivation, swaps, and fixed-income financing for institutions. This acquisition will make Ripple a cryptocurrency company that owns and operates a global multi-asset prime brokerage. Since the announcement of the acquisition, Ripple Prime's business has grown threefold, with further growth expected. Ripple Prime will enhance the utility and coverage of Ripple's stablecoin RLUSD. Currently, RLUSD is being used as collateral for various prime brokerage products. Some derivation clients have chosen to hold RLUSD.
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