Hidden Road’s Crypto Swaps: A New Era for U.S. Institutions Awaits! 🚀

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Ah, mesdames et messieurs! Gather ’round as we unveil the latest spectacle in the grand theater of finance! The illustrious prime brokerage, Hidden Road, has taken a bold step into the realm of crypto swaps for our dear U.S. clients, all while twiddling their thumbs in anticipation of regulatory approval for a staggering $1.25 billion acquisition by none other than Ripple! 🎭

Indeed, Hidden Road, that gallant broker, has unfurled its crypto swaps prime brokerage services for the esteemed institutions of the United States, thus broadening the horizons of over-the-counter cash-settled swaps across the most revered cryptocurrencies. One might say, “Finally, a feast for the financial palate!” 🍽️

But wait! This splendid offering is brought forth by Hidden Road’s British arm, Hidden Road Partners CIV UK Ltd., which, I assure you, is under the watchful eye of the Financial Conduct Authority. With this latest upgrade, our U.S.-based institutions can now partake in OTC swaps in a market that has been, dare I say, “under-served from a product standpoint.” How scandalous! 😲

“While OTC swaps represent a significant portion of digital asset trading volumes globally, until now, they were largely unavailable to U.S. 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.”

— Michael Higgins, the International CEO and Global Head of Corporate Development for Hidden Road

Ah, but that is not all! This prime brokerage service offers cross-margining and financing tools, which, according to the firm, may assist institutional clients in managing their trading and collateral with the finesse of a seasoned juggler, balancing multiple counterparties and positions with grace! 🎪

And lo! This grand rollout comes shortly after Hidden Road struck a deal in April to be acquired by Ripple for the princely sum of $1.25 billion. Prior to this acquisition, Hidden Road had already garnered investments from the likes of Citadel Securities and other noble firms. 🏰

However, dear readers, do not pop the champagne just yet! The deal is still awaiting the nod from regulatory authorities, as the broker has so graciously informed us. As crypto.news has previously reported, this transaction will be primarily cash-based, with a sprinkle of XRP and Ripple stock to sweeten the pot. 💰

With Ripple’s backing, Hidden Road proclaims it will “exponentially expand its capacity to service its pipeline and become one of the largest non-bank prime brokers globally.” A bold claim, indeed! Let us watch with bated breath as this drama unfolds! 🎉

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2025-05-29 09:36