Hidden Road has launched digital asset swap capabilities for the US, expanding its suite of prime brokerage solutions.
Michael Higgins
The firm is also set to offer various cross-margining and financing services in digital assets as a result of this update.
Specifically, the OTC swaps offering is available from the Group’s FCA-regulated entity, Hidden Road Partners CIV UK.
“The United States digital asset market has long been under-served from a product standpoint,” said Michael Higgins, international chief executive and global head of corporate development for Hidden Road.
“While OTC swaps represent a significant portion of digital asset trading volumes globally, until now, they were largely unavailable to US institutions. With the launch of our swap prime brokerage capabilities for the United States market, we can provide clients with access to an expanded range of products and solutions.”
Earlier this year in April, Hidden Road confirmed that it was set to be acquired by Ripple in a $1.25 billion deal.
Through the move, Hidden Road is set to “exponentially’ expand its capacity, becoming one of the largest non-bank prime brokers globally.
The deal is expected to close later in 2025, subject to regulatory approvals.