Here are Ripple’s 5 big moves since 2023 and what they mean for XRP

Brad Garlinghouse recently outlined all the major acquisitions the company has made in recent years.

Ripple has had a big year since the 2024 US presidential election, when Donald Trump won his second victory and returned to power in early 2025. Given his election campaign and the numerous pro-crypto promises he made, including firing then-SEC Chairman Gary Gensler, who led the war against the industry and Ripple in particular, it was clear that the winds were about to change substantially, especially for US-based companies.

The Brad Garlinghouse-led entity has been at the forefront of beneficiaries, especially since the tides changed at the SEC and the four-year battle between the two parties finally ended on a positive note for Ripple. But even before the end of the lawsuit, the company had already started making some bold acquisition moves, and Garlinghouse acknowledged this in a post on X on Friday.

With Hidden Road (now Ripple Prime) closed today, Ripple has announced 5 major acquisitions in ~2 years (GTreasury last week, Rail in August, Standard Custody in 2024, Metaco in 2023). As we continue to build solutions to enable an Internet of Value, I remind you… https://t.co/O5Uub7ulw9

— Brad Garlinghouse (@bgarlinghouse) October 24, 2025

5 major purchases

It all started in May 2023 with a $250 million deal to acquire Metaco, a Swiss-based crypto custody provider. It enabled Ripple to enhance its business offering and provide customers with the technology to store, issue and settle all tokenized assets.

Less than a year later, another purchase made headlines when Ripple President Monica Long outlined the acquisition of Standard Custody & Trust Company, a regulated platform for enterprise-level cryptocurrencies.

Then came 2025, when the number of deals skyrocketed to three (so far). Rail, a platform built to help businesses move money with speed, transparency and trust using stablecoins and fiat together, was bought for $200 million.

In addition to highlighting plans to create its own billion-dollar treasury company, Ripple has also acquired treasury software provider GTreasury for $1 billion to strengthen its corporate finance relationships.

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The most expensive was the purchase of the prime broker Hidden Road. Although initially announced in April, the deal became official earlier this week and the platform is now known as Ripple Prime.

“We are pleased to announce that our acquisition of Hidden Road has officially completed, making Ripple the first crypto company to own and operate a global, multi-asset prime broker – bringing the promise of digital assets at scale to institutional clients,” the company statement read.

XRP impact?

The CryptoSensei asked Garlinghouse directly about XRP’s role in the overall Ripple infrastructure, especially since the launch of the project’s stablecoin (RLUSD) late last year.

Brad, many in the XRP community are trying to understand how the clearing and settlement process will work now that Ripple has integrated Hidden Road under Ripple Prime.

We’ve heard RLUSD mentioned as the main settlement asset, but does RLUSD work on the XRP Ledger or…

— CryptoSensei (@Crypt0Senseii) October 24, 2025

Another user tried to explain that XRP is used for liquidity and its real purpose is to serve as a liquidity pool. A higher USD valuation would make it easier to complete trades in seconds as less XRP is required. RLUSD is supported in a one-to-one ratio with the dollar, but it does not solve the liquidity problem, according to the user said.