Hidden Road Launches U.S. Crypto Swaps Service for Institutional Clients

Hidden Road, a crypto prime broker, has introduced a new digital asset swaps prime brokerage service tailored for the U.S. market. The offering enables U.S.-based institutional clients to trade cash-settled over-the-counter (OTC) swaps across a broad spectrum of prominent digital assets. Transactions will be facilitated through Hidden Road Partners CIV UK Ltd, the firm’s FCA-regulated entity.

The service expands beyond execution to include cross-margining and financing, enhancing trading and capital efficiency for institutional participants. Michael Higgins, Hidden Road’s International CEO, highlighted the persistent gap in the U.S. digital asset market that this initiative aims to address.

The launch coincides with rising institutional demand for complex crypto instruments, reflecting a broader trend toward maturing infrastructure and sophisticated financial products in the sector. The timing is notable as Hidden Road is set to be acquired by Ripple in a $1.25 billion deal pending regulatory approval—a move expected to accelerate the firm’s growth trajectory.