Hidden Road Announced The Public Launch Of OTC Prime Brokerage For Digital Assets

Hidden Road, which counts Castle Island Ventures and Citadel Securities among its investors, has established an over-the-counter primary brokerage for digital assets.

According to a press release, the OTC offering will be available to US and worldwide counterparties and intends to increase institutional use of digital assets. The offering will give counterparties ownership and control over their fiat and digital asset execution technologies, liquidity, and custodian choice.

Hidden Road discovered a market for this real prime brokerage solution for OTC trading by engaging with its institutional counterparts, Global Head of Business Development Mike Higgins stated:

“The market was in need of a truly conflict-free prime broker, one without a proprietary trading desk, OTC liquidity desk or market making operation,” he added.

The company provides a credit network and a prime brokerage solution for digital assets, comprising margin netting, financing of trade and consolidated market access to key worldwide OTC liquidity providers, Higgins noted.

Initial liquidity providers on the network include organizations like OSL, Virtue, GSR and Wintermute. Independent software suppliers include 4OTC, CoinRoutes, Elwood Tech, Gold-i, Reactive, Talos. Finally, venues include 24x, Crossover Markets, Cypator, Enclave Markets, Finery Markets, and Spotex.

Hidden Road launched a $50 million Series A financing headed by Castle Island Ventures in July. Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, and Coinbase Ventures, among others, also joined the round.

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