Hidden Road Launches Cash-Settled Crypto OTC Swaps for U.S. Institutions, Powered by Ripple’s $1.25 Billion Acquisition
Hidden Road, the prime brokerage platform recently acquired by Ripple, has officially rolled out its digital assets prime brokerage services for the U.S. market, offering institutional investors access to over-the-counter (OTC) crypto swaps.
The new service enables U.S.-based institutional clients to execute cash-settled OTC swaps across multiple cryptocurrencies. These products will be managed through Hidden Road’s FCA-regulated UK entity, Hidden Road Partners CIV UK Ltd. Additionally, the expansion features cross-margining and financing solutions for digital assets.
“The U.S. digital asset market has long lacked sufficient product offerings,” said Michael Higgins, International CEO and Global Head of Corporate Development at Hidden Road, in a statement released Thursday.
“OTC swaps make up a large share of digital asset trading globally, but until now, U.S. institutions had limited access. Our launch of swap prime brokerage capabilities opens the door to a broader suite of products and solutions for our clients.”
OTC swaps refer to private trades conducted outside public exchanges, enabling institutional investors to carry out large transactions discreetly and avoid major market price fluctuations.
Ripple acquired Hidden Road in April for $1.25 billion, with plans to grow the platform internationally as a leading non-bank prime broker within the digital asset industry.
