Ripple has completed the acquisition of non-bank prime broker Hidden Road and immediately rebranded the business as Ripple Prime. The rebrand positions Ripple to expand deeper into prime brokerage services while linking the business to its wider digital asset ambitions. Hidden Road Officially Transitions to Ripple PrimeWith the rebrand to Ripple Prime, the company becomes a crypto-focused firm that owns and operates a global prime broker spanning several asset classes. Hidden Road’s services covered clearing, financing, and prime brokerage across FX, digital assets, derivatives, swaps, and fixed income.According to the company, the business has reported a threefold increase in activity since the acquisition was announced, and Ripple expects further growth under the Ripple Prime brand.Ripple intends to link its existing digital asset infrastructure to Ripple Prime. This includes payments, crypto custody, its stablecoin RLUSD, and the use of XRP. The company also plans to apply blockchain capabilities across the prime brokerage unit to streamline operations and lower costs.RLUSD Usage Expands Through Ripple PrimeRipple sees the rebranded platform as a key channel for institutional use of its stablecoin, RLUSD. Clients use it as collateral for various prime brokerage products, and some derivatives customers have chosen to keep balances in RLUSD. Adoption is expected to rise over the coming months.Ripple Prime becomes the latest addition to Ripple’s expanding institutional portfolio. The company has announced several acquisitions in the past two years, including treasury management provider GTreasury, payments platform Rail, Standard Custody and Metaco.Integration between the teams is reportedly underway following the rebrand. Hidden Road founder and CEO Marc Asch is now working closely with Ripple CEO Brad Garlinghouse and the leadership team as Ripple Prime begins its next phase under the new name.Expect ongoing updates as this story evolves. This article was written by Jared Kirui at www.financemagnates.com.Ripple has completed the acquisition of non-bank prime broker Hidden Road and immediately rebranded the business as Ripple Prime. The rebrand positions Ripple to expand deeper into prime brokerage services while linking the business to its wider digital asset ambitions. Hidden Road Officially Transitions to Ripple PrimeWith the rebrand to Ripple Prime, the company becomes a crypto-focused firm that owns and operates a global prime broker spanning several asset classes. Hidden Road’s services covered clearing, financing, and prime brokerage across FX, digital assets, derivatives, swaps, and fixed income.According to the company, the business has reported a threefold increase in activity since the acquisition was announced, and Ripple expects further growth under the Ripple Prime brand.Ripple intends to link its existing digital asset infrastructure to Ripple Prime. This includes payments, crypto custody, its stablecoin RLUSD, and the use of XRP. The company also plans to apply blockchain capabilities across the prime brokerage unit to streamline operations and lower costs.RLUSD Usage Expands Through Ripple PrimeRipple sees the rebranded platform as a key channel for institutional use of its stablecoin, RLUSD. Clients use it as collateral for various prime brokerage products, and some derivatives customers have chosen to keep balances in RLUSD. Adoption is expected to rise over the coming months.Ripple Prime becomes the latest addition to Ripple’s expanding institutional portfolio. The company has announced several acquisitions in the past two years, including treasury management provider GTreasury, payments platform Rail, Standard Custody and Metaco.Integration between the teams is reportedly underway following the rebrand. Hidden Road founder and CEO Marc Asch is now working closely with Ripple CEO Brad Garlinghouse and the leadership team as Ripple Prime begins its next phase under the new name.Expect ongoing updates as this story evolves. This article was written by Jared Kirui at www.financemagnates.com.

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more