Hidden Road Launches OTC Brokerage for Cryptocurrency in the U.S.
Finance/Markets

Hidden Road Launches OTC Brokerage for Cryptocurrency in the U.S.

The launch of a new digital assets prime brokerage by Hidden Road aims to cater to U.S. institutional clients seeking crypto OTC swaps.

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Hidden Road, recently acquired by Ripple, has officially introduced a prime brokerage for digital assets aimed at U.S. institutional clients, enabling private over-the-counter (OTC) crypto swaps. This new service facilitates cash-settled OTC swaps across various tokens and will operate through Hidden Road’s FCA-regulated entity in the UK.

Key Points

  • The launch responds to the United States’ under-served digital assets market.
  • Michael Higgins from Hidden Road highlighted the expansion of available OTC swap products for U.S.-based institutions.
  • Ripple’s acquisition of Hidden Road aims to enhance its role as a global non-bank prime broker in the digital assets realm.

OTC swaps allow substantial trades to occur outside of public exchanges, thereby minimizing price fluctuations in the market. Ripple’s $1.25 billion acquisition of Hidden Road was designed to increase its global footprint in the digital asset trading landscape.

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