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Highlights
- Ripple's XRPL plays a major role in the Hidden Road broker deal, says Ripple executive.
- Director Craddock posits that Ripple's RLUSD will be used as collateral.
- XRPL will power all of Hidden Road’s post-trade services related to prime brokerage.
The XRP Ledger (XRPL) is poised to take center stage in the strategic Hidden Road broker deal. In the latest development, Ripple executive Cassie Craddock unveiled XRPL’s key role in Hidden Road’s post-trade infrastructure.
Reportedly, the XRP Ledger is expected to spearhead integration of digital assets with traditional financial systems. According to the executive, the XRPL will power all of Hidden Road’s post-trade services related to prime brokerage. In addition, Ripple’s RLUSD will be used as collateral.
XRPL To Take Lead in Hidden Road Broker Deal
As highlighted by Cassie Craddock , Ripple’s Managing Director for the UK and Europe, the XRP Ledger will power Hidden Road’s post-trade infrastructure. In a recent X post, market expert Crypto Eri, shared insights into the Ripple Director’s crucial revelations.
Reflecting on Craddock’s statements, the expert explained the key role of XRPL in the Hidden Road broker deal. Reportedly, the XRPL is likely to facilitate key transactions and data management for Hidden Road’s post-trade processes, including trade settlements and collateral movements. Craddock stated, “The XRP ledger will be used as a post‑trade for all of Hidden Rose prime brokerage services.”
While specifics are yet to be revealed, future updates from Ripple and tracking on-ledger activity may provide additional insights into the partnership’s implications.
Ripple’s RLUSD To Be Collateral
During the interview on BFM Business, Craddock remained vocal about Ripple’s $1.25 billion acquisition of prime broker Hidden Road. While revealing XRPL’s key role in the Hidden Roader broker deal, the executive also unveiled the utilization of Ripple’s RLUSD stablecoin.
Notably, Craddock confirmed that RLUSD “will be used a collateral” in the deal. According to her, this moves enables the “bridging of the digital asset space to TradFi, which is extremely exciting.”
XRPL To Boost Institutional Growth
Significantly, the integration of XRPL is expected to reduce post-trade processing times. It will be lowered from 24 hours to mere 3-5 seconds with its settlement finality. With Hidden Road handling over 50 million transactions and $10 billion in daily cleared volume, this move puts XRPL to a major performance test.
Moreover, Ripple gains access to a substantial institutional market, serving over 300 hedge funds and trading firms with $3 trillion in annual cleared volume. This provides a significant customer base for Ripple’s digital asset infrastructure.
This development comes amid increasing anticipations of the official conclusion of the XRP lawsuit and ETF launches.
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