Hidden Road, a leading brokerage firm supported by the renowned American market maker Citadel Securities, is expanding institutional exposure to digital assets through a collaboration with Bitfinex.
Bitfinex recently announced a partnership with Hidden Road on June 13, which will enhance the brokerage’s institutional offerings by introducing new digital assets and security tools. Through this alliance, Bitfinex will assist Hidden Road in launching or expanding services such as derivatives trading, spot trading, peer-to-peer financing, over-the-counter (OTC) trading, margin trading, and more.
The new partner for Hidden Road is managed by the owner of Tether, a popular stablecoin. Bitfinex, a cryptocurrency exchange owned and operated by iFinex, also oversees Tether, with Tether CEO Paolo Ardoino serving as the chief technology officer (CTO) at Bitfinex.
“We are thrilled at Bitfinex to provide customers with advanced trading features, deep liquidity, and a diverse range of trading pairs, all backed by a robust infrastructure with stringent security measures,” stated Bill Brindise, Bitfinex’s head of business development. “I am confident that Hidden Road’s clients will appreciate exploring the various products we offer to assist institutional and professional investors in gaining exposure to digital assets,” he added.
The collaboration follows Hidden Road’s decision to discontinue its services with Bybit in May due to KYC issues. Bybit, a cryptocurrency exchange based in Dubai, is recognized in the crypto community for its relaxed KYC policies. The partnership with Bitfinex signifies Hidden Road’s dedication to expanding access and choice for counterparties, offering access to a leading platform in the field.
Hidden Road, established in 2018, offers prime brokerage services across various asset classes, including foreign exchange, precious metals, and cryptocurrencies. The company had plans to raise $120 million in funding in April 2024, aiming for a valuation of $1 billion.
Michael Higgins, Hidden Road’s global head of business development, emphasized the company’s commitment to providing clients with cutting-edge technology and seamless workflows across various products and asset classes, including digital assets. While Cointelegraph sought a comment from Hidden Road regarding the collaboration, no response was received at the time of publication.
In conclusion, the partnership between Hidden Road and Bitfinex marks a significant step towards enhancing institutional exposure to digital assets and providing clients with a comprehensive range of trading services and tools.