According to Techub News and Cointelegraph, Ripple's newly acquired top broker Hidden Road has launched cash settlement over-the-counter (OTC) swaps for trading multiple major crypto assets for US institutional clients. The OTC swap product is provided by Hidden Road Partners, an entity regulated by the UK Financial Conduct Authority (FCA).
Hidden Road was acquired by Ripple in April for $1.25 billion, making Ripple one of the first cryptocurrency companies to own and operate a global multi-asset prime broker.