Hidden Road Receives U.S. Broker-Dealer License Approval from FINRA
Hidden Road, a prime brokerage firm set to be acquired by Ripple, received approval from FINRA to operate as a U.S. broker-dealer. The license was granted to its subsidiary Hidden Road Partners CIV US LLC.
- The firm aims to expand its fixed income prime brokerage platform.
- It plans to offer institutional clients a wider range of regulatory-compliant services in clearing, financing, and prime brokerage for fixed income assets.
- The acquisition by Ripple for $1.25 billion is pending regulatory approval and expected to close soon.
- Backed by Ripple, Hidden Road aims to become a leading non-bank prime broker and intends to migrate post-trade operations onto the XRPL network to reduce costs and enhance settlement processes.