Hidden Road, which is set to be acquired by Ripple, has received a broker-dealer license in the US
Author: Christian Sandor, AI Boost | Edited by : Stephen Alpher Updated: April 18, 2025, 6:38 PM Published: April 17, 2025, 7:11 PM
Hidden Road, the prominent brokerage firm that Ripple plans to acquire, has received approval to operate as a broker-dealer in the United States from the Financial Industry Regulatory Authority (FINRA), the company announced on Thursday.
The license, issued to its subsidiary Hidden Road Partners CIV US LLC, will allow the firm to expand its fixed-income prime brokerage platform, according to a press release. By becoming a broker-dealer, the company plans to offer institutional clients a broader range of services that comply with regulatory requirements in the areas of clearing, funding, and prime brokerage of fixed-income assets.
“[This] is an important step in the evolution of Hidden Road’s fixed income brokerage platform, which enhances our capabilities in traditional financial markets,” said company president Noel Kimmel.
The development comes after Hidden Road announced earlier this month that it had reached an agreement to be acquired for $1.25 billion by Ripple, a blockchain infrastructure services company closely involved with the XRP Ledger (XRPL) network. The deal is subject to regulatory approval and is expected to close in the coming months.
Backed by Ripple, Hidden Road has said it intends to significantly expand its services and become one of the largest non-bank prime brokers. The firm has also previously mentioned plans to move its post-trade operations to the XRPL network in an effort to reduce costs and streamline the settlement process.
Disclaimer: Portions of this article were generated by AI tools and reviewed by our editorial team to ensure accuracy and adhere to our standards. For more information, see CoinDesk’s full AI policy.
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