US EditionRipple’s Hidden Road Debuts OTC Crypto Swaps in the US
- In May 2025, Hidden Road introduced prime brokerage services for digital asset swaps to U.S. Institutional clients, allowing them to trade cash-settled OTC swaps on a variety of leading digital assets through its FCA-authorized entity.
- This launch follows Ripple’s April 2025 announcement to acquire Hidden Road for $1.25 billion, aiming to address the limited access U.S. Institutions had to OTC swaps until now.
- Hidden Road’s CEO Michael Higgins explained that the U.S. Digital asset market has long lacked diverse product offerings, and the new service expands prime brokerage and financing solutions.
- OTC swaps make up a large share of the worldwide digital asset trading volume, but according to Higgins, U.S. Institutions have historically lacked sufficient product options in the digital asset sector.
- The launch could improve U.S. Market liquidity and institutional participation, marking a step toward clearer regulation and more sophisticated crypto infrastructure backed by Ripple’s resources.
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22 Articles
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