Hidden Road, the credit network for institutions, announced that its wholly-owned subsidiary, Hidden Road Partners CIV US LLC, has secured approval from the Financial Industry Regulatory Authority (FINRA) to operate as a FINRA-member broker-dealer.
This approval reportedly enables Hidden Road to expand its recently launched fixed income prime brokerage platform, which currently “includes Fixed Income Repo & Global Funding services.”
As a broker-dealer, Hidden Road will now be able to provide new as well as existing institutional clients with “a full suite of regulatory-compliant prime brokerage, clearing, and financing services in fixed income assets.”
Noel Kimmel, President at Hidden Road said:
“Our broker-dealer registration is a significant step in the development of Hidden Road’s fixed income prime brokerage platform and bolsters our capabilities in traditional financial markets. As a FINRA member, we will be able to bring our best-in-class, technology-driven fixed income service offering to an expanded universe of institutional clients. Our business has tremendous momentum, and we look forward to continuing to provide superior execution and support to our clients amidst today’s exceptionally dynamic market environment.”
On April 8, 2025, Hidden Road had announced that it has entered into a definitive agreement to be acquired by Ripple, a provider of digital asset infrastructure for financial institutions, “for $1.25 billion.”
With the backing of enterprise blockchain firm Ripple‘s balance sheet, Hidden Road will now aim to further “expand its capacity to service its pipeline and become one of the largest non-bank prime brokers globally.”
The deal is reportedly expected to close in the coming months, “subject to regulatory approvals.”
As noted in the update, Hidden Road Partners is serving as the global credit network for institutions, enabling access “to traditional and digital markets.”
“Conflict-free” and built on a modern technology stack, they aim “to remove complexity and cost in prime brokerage, clearing and financing.”
