Ripple has spent nearly $3 billion on acquisitions since 2023, according to CEO Brad Garlinghouse, as the company accelerates its strategy to bridge traditional financial systems with blockchain-based infrastructure. The disclosure underscores Ripple's aggressive positioning at the intersection of TradFi and crypto — a space that has drawn increasing institutional attention over the past two years.
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Garlinghouse shared the update publicly, framing the acquisition spree as a deliberate effort to link established finance firms with blockchain technology. The spending reflects Ripple's broader ambition to become a core piece of infrastructure for cross-border payments, tokenized assets, and institutional-grade crypto services.
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Key Deals Driving the Strategy
The bulk of Ripple's acquisition capital has gone toward deals that expand its reach into regulated financial markets. The most notable transaction was the company's $1.25 billion acquisition of prime broker Hidden Road, announced in April 2025. Hidden Road processes over $3 trillion in annual volume across fixed income, FX, and digital assets — giving Ripple a direct pipeline into institutional trading flows.
Prior to that, Ripple completed the acquisition of custody provider Standard Custody & Trust Company in 2024, bolstering its ability to offer regulated digital asset custody services. The company also acquired Metaco, a Swiss-based digital asset custody and tokenization platform, in a deal reportedly valued at $250 million in 2023. Together, these acquisitions form a stack that covers custody, prime brokerage, and settlement — key building blocks for institutional crypto adoption.
TradFi-Crypto Convergence
Ripple's spending comes at a time when the line between traditional finance and crypto infrastructure is narrowing. Major banks and asset managers have increasingly explored tokenized assets, onchain settlement, and digital custody solutions. Ripple appears to be betting that owning the infrastructure layer — rather than simply partnering with incumbents — will give it a competitive advantage as these trends accelerate.
Garlinghouse has described the acquisitions as aimed at connecting "established finance firms with blockchain," positioning Ripple as a bridge between the two ecosystems rather than a competitor to either.
The strategy also comes after Ripple's prolonged legal battle with the U.S. Securities and Exchange Commission, which reached a resolution and removed a significant overhang from the company's operations. With regulatory clarity improving, Ripple has moved quickly to deploy capital.
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What to Watch
With nearly $3 billion already deployed, the question now is whether Ripple continues its acquisition pace or shifts toward integrating its existing portfolio. The company's ability to unify its custody, brokerage, and payments infrastructure into a cohesive offering for institutional clients will likely determine whether the spending translates into market share.
Observers will also be watching how Ripple's RLUSD stablecoin fits into the broader picture, as the company looks to expand its product suite beyond XRP-based payment rails.
