Ripple acquisition Hidden Road secures FINRA registration
The Ripple-owned Hidden Road is now a Financial Industry Regulatory Authority member, which expands its broker-dealer capabilities.
Prime brokerage Hidden Road, which was recently acquired by Ripple for $1.25 billion, has secured a broker-dealer license from the Financial Industry Regulatory Authority (FINRA) — a move that enhances its capacity in the fixed-income markets.
As a FINRA broker-dealer, Hidden Road can further develop its fixed-income prime brokerage services and extend its capabilities in traditional markets, the company announced on April 17. This includes offering institutional clients regulatory-compliant clearing and financing services across fixed-income securities.
Membership in FINRA is considered a significant commitment to compliance and investor protection. It also boosts registrants’ credibility in the eyes of investment bankers, according to Telos Capital Advisors, a Dallas-based investment bank.
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