Michaela
Ripple-backed brokerage firm Hidden Road has joined the Financial Industry Regulatory Authority (FINRA), marking a step forward in expanding its broker-dealer services.
Following its $1.25 billion acquisition by Ripple, Hidden Road is poised to enhance its fixed-income prime brokerage offerings and broaden its presence in traditional financial markets.
“As a FINRA member, we will be able to bring our best-in-class, technology-driven fixed income service offering to an expanded universe of institutional clients. Our business has tremendous momentum, and we look forward to continuing to provide superior execution and support to our clients amidst today’s exceptionally dynamic market environment,” Noel Kimmel, President at Hidden Road, stated.
Joining FINRA is seen as a strong commitment to upholding compliance standards and safeguarding investors. It also enhances the credibility of registrants with investment bankers, as noted by Telos Capital Advisors, a Dallas-based investment bank.
Founded in 2018, Hidden Road initially concentrated on foreign exchange markets before branching into digital assets. The company now operates a prime brokerage and credit network, clearing over $10 billion in daily transactions for more than 300 institutional clients.
Related: SEC Halts 3–5x Leveraged Crypto ETFs, Warning Investors of Risks
On April 8, Ripple CEO Brad Garlinghouse revealed the company’s decision to acquire Hidden Road, branding the deal as “one of the largest in crypto history” in a post on X.
Garlinghouse explained that the integration of Hidden Road into Ripple’s operations will leverage the strengths of XRP and the XRP Ledger—fast, efficient, scalable, and low-cost value transfers. He noted that, instead of relying on traditional fiat rails that can take up to 24 hours to settle trades, Hidden Road will begin using the XRP Ledger (XRPL) for clearing a portion of its trades.
Additionally, the prime brokerage services will incorporate RLUSD as collateral, enabling seamless transactions across both digital and traditional assets.
Related: Strategy Sells $1.4B in Stock to Cover Bills Amid Bitcoin Slump
“With this deal and the backing of Ripple’s significant balance sheet, Hidden Road will exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally,” the CEO wrote.
The merger between Ripple and Hidden Road marks a major step toward bridging traditional and decentralized finance. Combining Ripple’s blockchain technology with Hidden Road’s prime brokerage services, the partnership aims to revolutionize financial transactions by enabling faster, more secure, and cost-effective settlements.
This collaboration is set to reshape cross-asset trading and enhance liquidity, creating a more efficient global financial ecosystem for both digital and traditional markets. The industry is watching closely as Ripple and Hidden Road push for a more interconnected financial future.
Read More
- SEC Weighs XRP’s Commodity Status Amid Talks with Ripple Labs
- SEC Drops Ripple Case, Garlinghouse Calls It a Win for Crypto
- Ripple vs. SEC: Legal Battle Approaches Resolution
MICHAELA
Michaela is a news writer focused on cryptocurrency and blockchain topics. She prioritizes rigorous research and accuracy to uncover interesting angles and ensure engaging reporting. A lifelong book lover, she applies her passion for reading to deeply explore the constantly evolving crypto world.
