On April 9, according to Crowdfund Insider, Ripple announced the acquisition of Hidden Road Partners for $1.25 billion, entering the multi-asset institutional brokerage field. This acquisition is one of the largest transactions in the crypto industry to date, which will make Ripple the first crypto enterprise to operate multi-asset prime brokerage services. The transaction was facilitated by FT Partners.

Hidden Road is a prime broker serving foreign exchange, digital assets, derivatives, and synthetic asset trading, with an annual settlement volume of $3 trillion, and its clients include institutions such as Coinbase, Talos, and CME Group.