Crypto prime broker Hidden Road launched a new
digital asset swaps prime brokerage offering specifically for the U.S. market.
The new service allows U.S.-based institutional
clients to trade cash-settled over-the-counter (OTC) swaps across a wide range
of prominent digital assets. These transactions will be handled through Hidden
Road Partners CIV UK Ltd, the firm’s FCA-regulated entity.
In addition to execution, the brokerage will provide
cross-margining and financing services, expanding the trading and capital
efficiency options available to institutional players.
Opening Global OTC Crypto Flows
Michael Higgins, Hidden Road’s International CEO and
Global Head of Corporate Development, pointed to a persistent gap in the U.S.
digital asset market.
Hidden Road’s move comes as institutional
demand for complex crypto instruments continues to rise. The firm’s entry into
the U.S. swaps space signals a broader industry trend toward maturing
infrastructure and more sophisticated financial products in crypto markets.
“The United States digital asset market has long been underserved from a product standpoint,” said Michael Higgins, International CEO 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 U.S. institutions,” he added. “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.”
Growing Competition in Prime Brokerage
The timing of the new product launch is also
significant. In April, Hidden Road signed a definitive agreement to be acquired
by Ripple for $1.25 billion. Ripple, a digital asset infrastructure firm best
known for its enterprise blockchain solutions, brings significant financial and
strategic support to the table.
Hidden Road welcomed the move as a strategic fit between the two companies. “By partnering with Ripple,” he added, “we can immediately solve the supply and demand issue for Hidden Road’s existing clients, expand our capacity to service our pipeline, and continue to scale,” he told FinanceMagnates.com.
Read more: Ripple Effect? Hidden Road Enters Middle East with “In-Principle” Abu Dhabi Licence
As digital asset markets continue to evolve,
competition among non-bank prime brokers has intensified. With institutional
players demanding more robust infrastructure and regulatory clarity, firms like
Hidden Road are positioning themselves to fill the void left by traditional
financial intermediaries.
The company’s conflict-free model and modern
technology stack aim to remove barriers often associated with legacy brokerage
services. Hidden Road’s entry into the U.S. swaps market marks another step
toward broader institutional adoption of digital assets.
This article was written by Jared Kirui at www.financemagnates.com.
