Ripple’s Hidden Road launches OTC crypto swaps in US
Ripple’s newly acquired prime broker, Hidden Road, has launched cryptocurrency swaps for institutional investors in the United States.
The service allows US institutional clients to trade cash-settled over-the-counter (OTC) swaps across multiple major crypto assets, Hidden Road announced on May 28.
The new OTC swap product is offered by Hidden Road Partners, the company’s entity regulated by the United Kingdom’s Financial Conduct Authority (FCA).
The launch follows Ripple’s $1.25 billion Hidden Road acquisition deal announced in April, making the company behind XRP (XRP) one of the first crypto firms to own and operate a global, multi-asset prime broker.
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