Hidden Road Launches OTC Swaps After Ripple Acquisition

Hidden Road, now owned by Ripple following a completed $1.25 billion acquisition, has launched a digital asset prime brokerage service in the U.S., allowing institutional investors to access cash-settled OTC crypto swaps via its FCA-regulated UK entity. This launch addresses a longstanding gap for U.S. institutions seeking large-scale private crypto trades. The offering includes cross-margining and financing tools designed to meet growing institutional demand for advanced trading infrastructure. Industry data shows surging institutional OTC volumes, highlighting the need for such services as traditional and digital finance continue to converge. The move reflects a broader trend of maturing crypto market infrastructure and heightened competition among non-bank prime brokers. It also comes as U.S. regulatory clarity around crypto activities, such as staking, has improved, signaling greater regulatory acceptance of diverse crypto services.