Hidden Road, recently acquired by Ripple, is launching a new cryptocurrency trading service for institutional investors in the U.S.
New Crypto Trading Service
The service, announced on May 28, enables U.S. customers to trade over-the-counter (OTC) cash-settled crypto swaps. This move is significant for both Ripple and the crypto industry, particularly in the U.S., where such products have been scarce.
Significance of the Change
Until now, U.S. institutions have had limited choices regarding OTC crypto swap trading. Hidden Road CEO Michael Higgins noted that this market segment has been 'underserved' in the U.S., despite representing a substantial portion of global crypto trading.
Ripple's Influence on the Market
Ripple revealed its acquisition of Hidden Road in April 2025 for $1.25 billion, positioning Ripple as one of the first cryptocurrency companies to have a multi-asset prime broker in-house. Following the deal, Hidden Road also obtained a broker-dealer license from FINRA in the U.S.
The launch of Hidden Road's new service highlights the growing interest of institutional investors in cryptocurrency products and underlines the development of this market segment.
