Ripple's recently acquired prime broker, Hidden Road, has introduced cryptocurrency swaps for institutional investors in the United States. The service enables US institutional clients to engage in cash-settled over-the-counter (OTC) swaps involving various major crypto assets, as announced by Hidden Road on May 28. This new OTC swap offering is provided by Hidden Road Partners, the entity of the company regulated by the UK's Financial Conduct Authority (FCA). Following Ripple's $1.25 billion acquisition of Hidden Road in April, the company behind XRP became one of the initial crypto firms to possess and manage a global, multi-asset prime broker. The launch of the crypto OTC swaps in the US by Hidden Road signifies one of the initial products introduced by the firm since the acquisition by Ripple. Hidden Road has also obtained a broker-dealer license from the Financial Industry Regulatory Authority in the US and a Markets in Crypto-Assets (MiCA) license in Europe. Read more AI-generated news on: https://app.chaingpt.org/news

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