Ripple: Hidden Road grabs FINRA registration
Hidden Road, owned by Ripple, has expanded its broker-dealer capabilities by registering under the Financial Industry Regulatory Authority.
Quick overview
- Hidden Road, recently acquired by Ripple for $1.25 billion, has received a broker-dealer license from FINRA.
- This registration allows Hidden Road to enhance its fixed-income prime brokerage services and provide regulatory-compliant clearing and financing for institutional clients.
- The acquisition is seen as a significant commitment to investor protection and compliance, boosting Hidden Road's credibility in the financial market.
- Founded in 2018, Hidden Road has evolved from focusing on foreign exchange to expanding into digital assets.
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Hidden Road, owned by Ripple, has expanded its broker-dealer capabilities by registering under the Financial Industry Regulatory Authority.
The Financial Industry Regulatory Authority (FINRA) has granted the prime brokerage Hidden Road, which Ripple recently purchased for $1.25 billion, a broker-dealer license, enhancing its ability to operate in the fixed-income markets.
Hidden Road stated on April 17 that it can expand its capabilities in traditional markets and boost its fixed-income prime brokerage services as a FINRA broker-dealer.
This includes providing regulatory-compliant clearing and financing services for fixed-income securities to institutional clients.
Membership in FINRA is viewed as a major commitment to investor protection and compliance.
Telos Capital Advisors, an investment bank headquartered in Dallas, claims that it also enhances registrants’ perceived credibility in the eyes of investment bankers. On behalf of more than 300 institutional clients, Hidden Road operates a premier brokerage and credit network, processing over $10 billion in transactions daily.
Founded in 2018, Hidden Road initially focused on foreign exchange markets before branching into digital assets.
These advantages made Hidden Road a desirable target for Ripple, a blockchain payments network, which ultimately acquired the business on April 8.
Ripple’s chief technology officer, David Schwartz, called the acquisition a “defining moment for the XRP Ledger.”
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