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Hidden Road has received regulatory approval to operate as a broker-dealer, just days after being acquired by Ripple. As initially reported by Bloomberg, Hidden Road — a non-bank brokerage firm that was recently acquired by Ripple ( XRP ) — has obtained a broker-dealer license from the Financial Industry Regulatory Authority. The FINRA license enables the firm to expand its prime brokerage, clearing, and financing services across fixed-income assets to a wider range of institutional investors. Hidden Road President Noel Kimmel commented on the move stating that it “enables us to transact a much broader universe of customers.” The FINRA license was granted just days after the firm was acquired by Ripple in a $1.25 billion deal. As part of the integration, Hidden Road will use Ripple’s RLUSD stablecoin as collateral for its prime brokerage services and transition its post-trade activity onto the XRP Ledger. Ripple’s CEO Brad Garlinghouse said the “deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted traditional markets, and vice versa.” Hidden Road clears over $3 trillion annually across more than 300 institutions — volume that Ripple now aims to channel through the XRP Ledger. As for Hidden Road, the integration of Ripple’s RLUSD stablecoin and post-trade settlement via the XRP Ledger allows it to offer faster, lower-cost clearing services, which increases its competitiveness as a non-bank prime broker. “Instead of waiting for <24 hours to settle trades through fiat rails, Hidden Road will be using XRPL for clearing a portion of trades, and most consequentially, using RLUSD as collateral across its prime brokerage services, including cross-asset (crypto and traditional instrument) trades”, Garlignhouse said . Today, @Ripple announced the acquisition of Hidden Road for $1.25B, one of the largest deals ever in the crypto space. But the price tag isn’t what’s most important – it’s that this deal marks a once-in-a-lifetime opportunity for crypto to access the largest and most trusted… Looking ahead, Hidden Road plans to expand its product offering to include fixed-income repurchase agreements and global funding services later this year, leveraging Ripple’s balance sheet and resources.

Jerome Powell, the chairman of the United States Federal Reserve, recently made significant statements that could mark a turning point for the cryptocurrency industry. As major institutions begin to pay increased attention to bitcoin, Powell mentioned the evolution of cryptos, announcing that they are moving toward mainstream adoption. Add to that legislative proposals on stablecoins and the stance of U.S. regulators, and the future of the digital asset market looks more promising than ever. Jerome Powell’s remarks attracted attention. He clearly stated that cryptocurrencies, particularly stablecoins , are currently in the mainstream adoption phase. According to him, the legislation underway in Congress, both in the House and the Senate, should enable the creation of a legal framework for stablecoins. He emphasized that such regulation would be necessary and beneficial. “Based on what’s in it, it’s a good idea. We need it. There currently isn’t one“, he said during his speech at the Economic Club of Chicago regarding this legal framework. Powell also specified that stablecoins could have a “strong appeal“. This shows a shift in the approach of regulators toward digital assets like bitcoin , which were previously viewed with much skepticism. But despite this progress, Powell stressed that consumer protections and transparency must be included in future legislation. The Fed’s approach, long seen as conservative, now appears to aim to be more flexible. Powell confirmed that the Federal Reserve has no intention of restricting banks’ relationships with the crypto industry. He emphasized that while maintaining a cautious stance, some guidelines could be eased to encourage responsible innovation in the digital asset space. We will try to do so in a way that preserves the security and soundness of the financial system. This opens the door to greater involvement of banking institutions in the cryptocurrency ecosystem, which could boost their adoption. However, Powell also acknowledged the complex challenges posed by integrating digital assets into the traditional financial system. He thus stressed the need for a broader and more comprehensive regulatory framework to oversee this development. The pace is now accelerating on the side of the U.S. Congress, with legislative proposals such as the GENIUS Act and the STABLE Act. These bills aim to establish a legal framework for stablecoins, those cryptos backed by the dollar which are increasingly used, especially in international payments and cryptocurrency trading. At a conference in New York, Bo Hines, executive director of the Presidential Council on Digital Assets, announced that finalizing a law on stablecoins was a priority for the Trump administration. After the Senate Banking Committee adopted the GENIUS Act, a final stablecoin bill could reach the president’s desk within two months. Stablecoins, which already represent over $227 billion, continue to grow, surpassing players like Visa in transaction volume. Powell and other regulators have thus recognized the importance of this market and the urgent need for clear regulation. While U.S. regulators now seem more open to regulating cryptocurrencies, especially stablecoins, the market growth outlook is encouraging. However, the Federal Reserve chairman also painted a worrying economic picture , with forecasts of rising inflation and slowing economic growth.

Firing Powell Jerome the fed chair will make a positive or negative impact on crypto space. What are your thoughts?

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It's like people think I do not want new highs. I have altcoins that really need to play hard catchup. I want nothing more for new highs and btc dominance to drop like a rock. New highs?? Bring it I will be there for it. I have mentioned and explained it now so many times. Get out at X ..get back in at Y..which is lower = means more coins.. look for a rejection or reclaim. Play your conviction..play the cycle. I was one of the most convictional accounts in this space since 2022. When most people were screaming doom in 2022..and at each low after that. I was there for all of it..even when everyone hated on Solana etc etc.. Give me a break. It's always the same thing. You can't please everyone and bias will always catch the majority. Bullish at highs and bearish at the lows..majority...and then people will always fight because of it. Everyone thinks they are right but few make plans for when they are wrong. There is a difference between conviction because of data and bias based on emotion.. Bias starves you while fear and greed feeds your bias..it's like a parasite. Get rid of parasites. You will be better for it. No one will help you but yourself. Learn to take money...or it will be taken from you.