Summary
- Prime broker Hidden Road has reportedly obtained a broker-dealer license from the US Financial Industry Regulatory Authority.
- Hidden Road announced plans to expand its bond prime brokerage platform through this acquisition.
- Ripple announced last month that it would acquire Hidden Road for $1.25 billion, with the transaction expected to be completed following regulatory approval.
On the 17th (local time), according to the cryptocurrency-focused media outlet CoinDesk, prime broker Hidden Road has obtained a broker-dealer operating license from the US Financial Industry Regulatory Authority (FINRA).
This license was acquired by Hidden Road's subsidiary, Hidden Road Partners CIV US, enabling the expansion of its bond prime brokerage platform.
Hidden Road plans to broadly offer clearing, financing, and prime brokerage services for bond assets to institutional clients in the future.
Meanwhile, Ripple (XRP) announced last month that it would acquire Hidden Road for $1.25 billion, with the transaction expected to be completed in the coming months following regulatory approval.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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