Hidden Road, a Ripple Venture, Starts Crypto OTC Brokerage in the United States

Ripple-Backed Hidden Road Rolls Out Institutional Crypto Swaps in U.S.

Hidden Road, the prime brokerage platform recently acquired by Ripple for $1.25 billion, has launched crypto OTC swap services tailored for U.S.-based institutional investors, marking a strategic expansion into the American digital asset market.

Through its FCA-regulated U.K. subsidiary, Hidden Road Partners CIV UK Ltd., the firm will now offer cash-settled over-the-counter swaps across a variety of digital assets. The rollout includes support for cross-margining and asset financing, key tools for institutional players managing larger, complex positions.

“The U.S. has lacked institutional-grade access to OTC digital asset products for too long,” said Michael Higgins, International CEO of Hidden Road. “Our new swap prime brokerage aims to fill that void, giving sophisticated investors access to deeper liquidity and advanced trading infrastructure.”

OTC swaps, which occur privately rather than on open exchanges, are favored by institutions for executing high-volume trades with minimal market disruption.

Ripple’s acquisition of Hidden Road is part of a broader strategy to scale prime brokerage capabilities globally and increase its footprint in institutional crypto services.