Hidden Road secures broker-dealer license days after $1.25B Ripple acquisition

Hidden Road received regulatory approval to operate as a broker, just a few days after being acquired by Ripple.

As initially reported By Bloomberg, Hidden Road – a non -banking brokerage company which was recently acquired by Ripple (Xrp) – obtained a broker license from the Financial Industry Regulatory Authority. The FINRA license allows the company to extend its main brokerage, compensation and financing services between fixed income assets to a wider range of institutional investors.

The president of the hidden road Noel Kimmel commented In motion, indicating that it “allows us to transform a much wider universe of customers”.

The Fine license was granted just a few days after the company was acquired By Ripple in an agreement of $ 1.25 billion. As part of integration, Hidden Road will use Ripple’s Rlusd stable As a guarantee for its main brokerage services and will transition its post-exchange activity on the large XRP book.

The CEO of Ripple Brad Garlinghouse said “The agreement marks a unique opportunity for the crypto to access the largest and most reliable traditional markets, and vice versa.” Hidden Road erases more than 3 dollars per year in more than 300 institutions – a volume that Ripple now aims to channel via the large XRP book.

As for the hidden road, the integration of Ripple RUSD Stablecoin And the post-exchange rules via the major XRP book allows it to offer faster and lower cost compensation services, which increases its competitiveness as a non-banking first-rate broker.

“Instead of waiting <24 hours to adjust the exchanges via Fiat Rails, Hidden Road will use XRPL to clean part of the trades, and consequently, using the RUSD as guaranteed in its main brokerage services, including the Crosses (Crypto and Traditional Instrument)", Garignhouse said.

In the front, Road Hidden plans To extend its product offer to include fixed income buy -back agreements and global financing services later this year, taking advantage of Ripple’s assessment and resources.