As an experienced financial analyst, I see this partnership between Hidden Road and Bitfinex as a strategic move for both parties to expand their reach in the institutional crypto market. Hidden Road, with its extensive institutional investor base and backing from industry giants like Citadel Securities, aims to offer its clients more choice and access to top-tier exchanges. On the other hand, Bitfinex benefits from this partnership by gaining access to a broader range of institutional investors through Hidden Road’s network.
Hidden Road, a securities brokerage firm financed by Citadel Securities, recently announced a new partnership with Bitfinex. This collaboration comes only two weeks after the company terminated its relationship with Bybit.
Institutional investors who work with Hidden Road, a prime brokerage firm backed by Citadel Securities, can now gain access to cryptocurrencies through Bitfinex.
In a press release on June 13, Bitfinex announced a new collaboration. Through this alliance, Hidden Road’s substantial pool of institutional investors will be granted access to the cryptocurrencies supported by Bitfinex. Although the specifics of the partnership were undisclosed, Bitfinex emphasized that these investors would reap advantages like peer-to-peer financing, over-the-counter trading, and margin trading.
Michael Higgins, the global head of business development at Hidden Road, expressed his satisfaction with the new partnership between Hidden Road and Bitfinex. According to him, this collaboration highlights our commitment to expanding opportunities and providing our clients with an additional premier trading platform.
A few weeks ago, news emerged that the collaboration took place despite prior disagreements between the London-based brokerage firm and Bybit over the latter’s customer identification and anti-money laundering practices.
As a researcher, I’d describe it this way: I’ve discovered that Hidden Road, established in 2018 by Marc Asch, offers a unique service enabling cross-margining and margin financing across various financial instruments such as cash, cleared derivatives, and over-the-counter swaps. Moreover, they specialize in prime brokerage within the crypto sector.
In the year 2022, Hidden Road secured a $50 million investment in their Series A financing, with Castle Island Ventures spearheading the round. Additional investors included Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, and Coinbase Ventures.
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2024-06-13 15:27