Hidden Road, acquired by Ripple, receives U.S. broker-dealer license, aims to scale services

From Yahoo Finance: 2025-04-17 15:11:00

Hidden Road, a prime brokerage firm acquired by Ripple, has received approval from FINRA to operate as a U.S. broker-dealer. This milestone allows the firm to enhance its fixed income prime brokerage platform, offering institutional clients a wider range of services in clearing, financing, and prime brokerage of fixed income assets.

The approval comes after Hidden Road’s announcement of being acquired by Ripple for $1.25 billion, pending regulatory approval. With Ripple’s support, Hidden Road aims to become one of the largest non-bank prime brokers, scaling services and migrating post-trade operations onto the XRPL network for cost reduction and operational efficiency.

Read more: Hidden Road, Set to Be Acquired by Ripple, Wins U.S. Broker-Dealer License