Hidden Road Launches Digital Asset Swaps Trading in US

Just a month after reaching an agreement to be acquired by Ripple, digital assets prime broker Hidden Road has launched prime brokerage services in the US for digital asset swaps.

The launch means US-based institutional clients will now be able to execute cash-settled OTC swaps across “dozens” of the most prominent digital assets. Although targeting the US, the new OTC swaps product will be offered from Hidden Road’s UK-regulated entity, Hidden Road Partners CIV UK Ltd. The firm says it will also offer various cross-margining and financing services in digital assets following the latest launch. 

“The United States digital asset market has long been under-served from a product standpoint,” says 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 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.”