Hidden Road, a leading prime brokerage firm, has launched crypto swaps prime brokerage services for institutional investors in the U.S., significantly improving access to over-the-counter (OTC) cash-settled swaps tied to major cryptocurrencies.
This new service is being offered through Hidden Road’s UK-regulated entity, Hidden Road Partners CIV UK Ltd., which is overseen by the Financial Conduct Authority (FCA). With this expansion, U.S.-based institutional clients can now tap into OTC crypto swaps—a market segment that the firm describes as historically “under-served” in terms of institutional-grade offerings.
Michael Higgins, Hidden Road’s International CEO and Global Head of Corporate Development emphasized the importance of the move, stating:
“While OTC swaps represent a significant portion of digital asset trading volumes globally, until now, they were largely unavailable to U.S. 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.”
In addition to product access, the new service features cross-margining and integrated financing tools. According to the firm, these capabilities are designed to help institutional clients streamline trading activities and optimize collateral management across multiple counterparties and positions.
This strategic rollout comes shortly after Hidden Road entered into a $1.25 billion acquisition agreement with Ripple, announced in April. Prior to this development, Hidden Road had already attracted significant investment from major players such as Citadel Securities and other high-profile firms.
In parallel with its acquisition activity, Ripple has also been broadening its international footprint. Most recently, the company expanded its operations in the UAE by onboarding Zand Bank and fintech startup Mamo to its blockchain-powered cross-border payments network. These partnerships, officially announced in a May 19 press release, align with Ripple’s broader strategy to strengthen its presence in the Middle East and capitalize on the region’s growing appetite for digital financial infrastructure.
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