Ripple's recently acquired prime brokerage, Hidden Road, has obtained a broker-dealer license from the Financial Industry Regulatory Authority (FINRA), enhancing its capabilities in the fixed-income markets. With this certification, Hidden Road can provide institutional clients with regulatory-compliant clearing and financing services for fixed-income securities. This acquisition, valued at $1.25 billion, marks a strategic move for Ripple, allowing Hidden Road to expand its services significantly. CEO Brad Garlinghouse stated that under Ripple, Hidden Road will enhance its capacity to service clients and aims to become the largest non-bank prime broker worldwide. The move follows a favorable regulatory environment for Ripple, including successful registrations in Texas and New York, and the resolution of a lengthy legal battle with the SEC, positioning Ripple for future growth in the traditional financial market.

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