Ah, dear reader, gather ’round as we unveil the latest spectacle in the grand circus of finance! Hidden Road, that illustrious gem recently snatched up by Ripple, has decided to grace the U.S. institutional investors with a new crypto trading service. Yes, you heard it right! The crypto gods have smiled upon us!
On the fateful day of May 28, the announcement echoed through the hallowed halls of Wall Street, allowing our American friends to engage in over-the-counter (OTC) cash-settled crypto swaps. A momentous occasion indeed, for such offerings have been as rare as a unicorn in the U.S. market!
Now, let us ponder the nature of these OTC swaps. Picture this: two parties, cloaked in secrecy, engaging in private trades, far from the prying eyes of public exchanges. It’s like a clandestine meeting of the minds, where big trades can occur without the pesky price volatility that often accompanies a public spectacle. Who needs drama when you can have discretion?
And who is behind this grand endeavor, you ask? Why, it’s none other than Hidden Road Partners, a name that rolls off the tongue like fine wine! Regulated by the Financial Conduct Authority (FCA) in the UK, they bring a touch of regulatory elegance to the table, ensuring that our U.S. clients can partake in this delightful feast.
But why, oh why, should we care?
Until now, U.S. institutions have been left to wander the barren wasteland of OTC crypto swap trading, with little more than a mirage to quench their thirst. As the wise CEO of Hidden Road, Michael Higgins, lamented, this market segment has been “underserved” in the U.S. Yet, it represents a veritable treasure trove of global crypto trading potential!
And lo! The winds of change are upon us! OTC cryptocurrency trading has surged forth like a phoenix, with Finery Markets reporting a staggering 106% growth in global institutional OTC volumes during the year 2023 alone. Clearly, the big investors are clamoring for such services, and who can blame them?
Ripple’s Ascendant Power
In a plot twist worthy of the finest novels, Ripple revealed its acquisition of Hidden Road in April 2025 for a cool $1.25 billion. With this bold move, Ripple positions itself as a pioneer, boasting a global, multi-asset prime broker in its arsenal. It’s like a knight donning shining armor, ready to conquer the realm of institutional finance!
But wait, there’s more! Following this grand acquisition, Hidden Road also secured a broker-dealer license from the U.S. Financial Industry Regulatory Authority (FINRA) and became one of the first to dance under Europe’s MiCA crypto rules. Truly, a tale of ambition and triumph!
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2025-05-29 19:03