Hidden Road Launches OTC Options Amid Institutional Crypto Growth
ByAinvest
Thursday, Jul 24, 2025 2:50 pm ET1min read
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The new offering, which is part of Hidden Road's suite of prime brokerage services, is supported by leading digital asset firms such as QCP and BlockTech, who will serve as launch liquidity providers. This collaboration brings pricing muscle and structured product capabilities to the table, making it easier for institutional clients to access sophisticated risk management tools.
"Options have long been a missing link in the digital asset toolkit," said Michael Higgins, Hidden Road’s international CEO and global head of corporate development. "That gap has now been filled." The launch of OTC options support at Hidden Road follows its definitive agreement in April 2025 to be acquired by Ripple for $1.25 billion [2]. This acquisition will exponentially expand Hidden Road's capacity to service its pipeline and become one of the largest non-bank prime brokers globally.
The acquisition, expected to close in the coming months subject to regulatory approvals, comes amid renewed momentum for digital assets in the United States. President Donald Trump’s pro-crypto stance coincides with a broader change in regulatory sentiment, according to Ripple CEO Brad Garlinghouse. Following the deal, Ripple will be the only crypto-native firm to fully own and operate a multi-asset global prime brokerage.
Hidden Road's expansion into OTC options is part of a broader strategy to enhance its services. The firm already holds regulatory permissions from the UK’s Financial Conduct Authority and is a clearing member on CME for listed derivatives. Its U.S. subsidiary, Hidden Road Partners CIV US LLC, received broker-dealer registration from the Financial Industry Regulatory Authority (FINRA), enabling it to expand its fixed income prime brokerage operations [2].
The move caps a busy few months for Hidden Road. In addition to the OTC options launch and the Ripple acquisition, the firm has been expanding its services and infrastructure to meet growing demand from institutional clients. With the backing of Ripple's significant balance sheet, Hidden Road will be able to scale rapidly and become the largest non-bank prime broker globally.
References:
[1] https://www.prnewswire.com/news-releases/hidden-road-launches-support-for-otc-options-prime-brokerage-302512106.html
[2] https://financefeeds.com/ripple-backed-hidden-road-rolls-out-otc-options/
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Hidden Road, backed by Ripple, is launching over-the-counter (OTC) options, allowing clients to trade crypto options alongside spot, swaps, forwards, and listed derivatives within a single margin framework. The firm, which serves institutional clients, aims to streamline the process of cross-margining across digital and traditional assets. QCP and BlockTech have signed on as launch liquidity providers, and Hidden Road plans to expand its services following its $1.25 billion acquisition by Ripple.
Hidden Road, a prime brokerage firm backed by Ripple, has announced the launch of over-the-counter (OTC) options trading, allowing institutional clients to execute crypto options alongside spot, swaps, forwards, and listed derivatives within a single margin framework [1]. This move aims to streamline cross-margining across digital and traditional assets, a long-awaited development for institutional traders.The new offering, which is part of Hidden Road's suite of prime brokerage services, is supported by leading digital asset firms such as QCP and BlockTech, who will serve as launch liquidity providers. This collaboration brings pricing muscle and structured product capabilities to the table, making it easier for institutional clients to access sophisticated risk management tools.
"Options have long been a missing link in the digital asset toolkit," said Michael Higgins, Hidden Road’s international CEO and global head of corporate development. "That gap has now been filled." The launch of OTC options support at Hidden Road follows its definitive agreement in April 2025 to be acquired by Ripple for $1.25 billion [2]. This acquisition will exponentially expand Hidden Road's capacity to service its pipeline and become one of the largest non-bank prime brokers globally.
The acquisition, expected to close in the coming months subject to regulatory approvals, comes amid renewed momentum for digital assets in the United States. President Donald Trump’s pro-crypto stance coincides with a broader change in regulatory sentiment, according to Ripple CEO Brad Garlinghouse. Following the deal, Ripple will be the only crypto-native firm to fully own and operate a multi-asset global prime brokerage.
Hidden Road's expansion into OTC options is part of a broader strategy to enhance its services. The firm already holds regulatory permissions from the UK’s Financial Conduct Authority and is a clearing member on CME for listed derivatives. Its U.S. subsidiary, Hidden Road Partners CIV US LLC, received broker-dealer registration from the Financial Industry Regulatory Authority (FINRA), enabling it to expand its fixed income prime brokerage operations [2].
The move caps a busy few months for Hidden Road. In addition to the OTC options launch and the Ripple acquisition, the firm has been expanding its services and infrastructure to meet growing demand from institutional clients. With the backing of Ripple's significant balance sheet, Hidden Road will be able to scale rapidly and become the largest non-bank prime broker globally.
References:
[1] https://www.prnewswire.com/news-releases/hidden-road-launches-support-for-otc-options-prime-brokerage-302512106.html
[2] https://financefeeds.com/ripple-backed-hidden-road-rolls-out-otc-options/
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