According to PANews, Hidden Road, a major brokerage firm set to be acquired by Ripple, announced on Thursday that it has received approval from the U.S. Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer in the United States. This approval, granted to its subsidiary Hidden Road Partners CIV US LLC, will enable the company to expand its fixed income prime brokerage platform. As a broker-dealer, Hidden Road plans to offer a broader range of compliance services to institutional clients, including clearing, financing, and prime brokerage for fixed income assets.
Earlier this month, Hidden Road revealed an agreement with blockchain infrastructure service company Ripple, under which Ripple will acquire Hidden Road for $1.25 billion. This acquisition is subject to regulatory approval and is expected to be completed in the coming months.
