Advising Ripple on US$1.25 billion acquisition of Hidden Road

Our Cayman Islands and British Virgin Islands (BVI) teams are advising Ripple Labs Inc. (Ripple) as counsel on its acquisition of Hidden Road, a leading multi-asset prime brokerage firm, in a transaction valued at approximately US$1.25bn.

This landmark fintech M&A deal reflects Ripple’s strategic expansion into institutional finance, enhancing its digital asset infrastructure and global brokerage capabilities.

Our corporate deal team was led by Cayman Islands partner Chris Brett Young and senior counsel Michael Beck with associates Sam Buchan, Sam Currie and Sabrina Mitchell. Advice was provided on regulatory and fintech matters by Cayman Islands partners Lucy Frew, Melissa Lim, Andrew Howarth, and Juliana Tang with associate Efe Avan-Nomayo. Our BVI team was led by partners Alex Drysdale, Omonike Robinson-Pickering, Paul Waldron and Iona Wright.

Gunderson Dettmer and Allen Overy Shearman Sterling acted as onshore counsel to Ripple.