Hidden Road, the prime brokerage firm recently acquired by Ripple, has officially launched a digital asset swap service aimed at institutional clients in the United States.
The new offering addresses a long-standing gap in the U.S. market by providing access to cash-settled over-the-counter (OTC) swaps .
They aim to achieve this through Hidden Road Partners CIV UK Ltd., its FCA-regulated UK entity.
Until now, such OTC derivatives have been widely used globally but were largely inaccessible to the U.S.-based institutions due to regulatory and structural limitations.
The newly introduced service is positioned as a cornerstone in Hidden Road’s broader mission to expand institutional access to digital assets via financial instruments.
A Strategic Expansion of Digital Asset Infrastructure and Financing Solutions
The launch of these swap prime brokerage services is not merely a product release but a strategic extension of Hidden Road’s digital asset infrastructure.
The offering includes robust cross-margining capabilities and financing solutions, allowing institutional clients to manage risk and capital more effectively while trading across multiple digital asset positions.
By delivering these services through a regulated UK entity, Hidden Road ensures compliance while providing flexibility and global access.
The move reinforces the firm’s positioning as a bridge between traditional finance and the evolving needs of the crypto markets.
Most especially, this comes to play for clients seeking regulated exposure in a market still grappling with uneven regulatory clarity.
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Hidden Road Responds to Institutional Demand Amid Market Underservice
Michael Higgins, International CEO and Global Head of Corporate Development at Hidden Road, emphasized the significance of the launch.
It is important to note that U.S. institutions have historically lacked access to OTC crypto swaps, a critical tool used extensively by global trading desks.
“The United States digital asset market has long been underserved from a product standpoint,” Higgins stated.
“With the launch of our swap prime brokerage capabilities for the U.S. market, we can now offer institutional clients the types of tools that have been missing, bringing U.S. trading infrastructure more in line with global standards.”
The recent development addresses pent-up institutional demand for regulated, high-quality OTC derivatives in the crypto space, a key factor in unlocking greater institutional adoption.
Ripple’s Backing Strengthens Hidden Road’s Position as a Leading Prime Broker
This development comes shortly after the announcement of Ripple’s $1.25 billion acquisition of Hidden Road, a deal expected to close later in 2025, pending regulatory approval.
Ripple’s support offers not only financial backing but also a robust infrastructure network that is expected to significantly enhance Hidden Road’s global reach and service capabilities.
With a reputation for being conflict-free and technology-driven, Hidden Road is poised to become one of the largest non-bank prime brokers in the digital asset space.
The launch of its U.S.-targeted swap service underscores the firm’s commitment to providing compliant, advanced trading solutions at a time when institutions are actively seeking secure and diversified access to digital assets.
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