Follow UsRipple is earning fees financing leveraged stock bets, a business long run by banks
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8 Oct, 06:17
Source: CoinDesk
AI Summary
Ripple's acquisition of Hidden Road establishes a new revenue stream by financing leveraged bets on major equities, marking a strategic expansion into traditional Wall Street markets.
The crypto company's $1.25 billion acquisition of Hidden Road has opened a corner of Wall Street where funds pay to amplify daily moves in stocks such as Nvidia and Sandisk.