Ripple’s Hidden Road Unveils US Crypto OTC Brokerage

Ripple’s Hidden Road has launched a cryptocurrency OTC prime brokerage service
in the U.S., marking a significant move in digital asset access for institutions as of May 28, 2025.

Hidden Road’s entry into the U.S. crypto market through Ripple’s acquisition is pivotal, increasing institutional accessibility and trading volume potential.

Ripple’s acquisition of Hidden Road for $1.25 billion was a strategic expansion into the U.S. market, facilitating OTC swaps. This initiative offers institutions new financial solutions while enhancing liquidity options for large-cap tokens such as Bitcoin and Ethereum.

Ripple, a significant player in cross-border payment solutions, acquired Hidden Road to provide U.S. institutions access to cash-settled OTC swaps. This brokerage service is run via Hidden Road Partners CIV UK Ltd., aligning with FCA regulations.

The new service aims to fill a gap in the U.S. digital asset market, where OTC trading was previously limited. This move aligns with a broader industry trend, with similar entries by major players like Fidelity impacting liquidity and participation.

“The United States digital asset market has long been under-served from a product standpoint. 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, we can provide clients with access to an expanded range of products and solutions.” — Michael Higgins, International CEO and Global Head of Corporate Development, Hidden Road

The launch demonstrates a concerted effort to bridge institutional demand and product offerings within the U.S. digital asset space. Hidden Road’s U.S. market engagement potentially reshapes trading environments for institutional actors.

Ripple’s overall strategy through this acquisition and service launch could reshape regulatory, technological, and financial dimensions of the market, illustrating greater industry inclusivity. Historical trends indicate an uptick in institutional engagement with regulated entry points.

For more information, visit the official site of Hidden Road.