Hidden Road’s U.S. subsidiary, Hidden Road Partners CIV US LLC, has received approval from the Financial Industry Regulatory Authority (FINRA) to operate as a registered broker-dealer. The approval allows the firm to expand its fixed income prime brokerage platform beyond its current repo and global funding services. Hidden Road shares the new in a press release.
With this regulatory status, Hidden Road can now offer institutional clients a broader range of services, including prime brokerage, clearing, and financing for fixed income assets. The move marks a step further into traditional financial markets for a company that has largely operated in digital-native infrastructure.
“Our broker-dealer registration is a significant step in the development of Hidden Road’s fixed income prime brokerage platform and bolsters our capabilities in traditional financial markets,” said Noel Kimmel, President at Hidden Road.
Ripple
The development follows the company’s recently announced agreement to be acquired by Ripple, a digital asset infrastructure provider, for US$1.25 billion. That deal, disclosed on 8 April 2025, is expected to close in the coming months pending regulatory approvals. With backing from Ripple, Hidden Road aims to scale its operations and compete as one of the largest non-bank prime brokers globally.
