Core Insights - Hidden Road Partners, founded in 2018, is a global prime brokerage that provides credit, clearing, and access to both traditional and digital assets, catering to hedge funds, high-frequency trading firms, and institutional investors seeking regulated exposure to crypto markets [1][2] Company Overview - The company is led by Michael Higgins, who serves as the International CEO and Global Head of Corporate Development, and has rapidly expanded its presence in New York and London [2] - Backed by U.S. pension funds, Hidden Road is one of the few prime brokers that connects traditional finance with digital assets [2] Market Trends - Institutional interest in cryptocurrency and blockchain infrastructure is growing, with discussions highlighting the need to differentiate between the two sectors [3] - Demand for liquidity, credit access, and balance-sheet solutions from regulated prime brokers like Hidden Road has surged as various trading firms enter the crypto space [4] Strategic Developments - Hidden Road has recently entered into an acquisition agreement with Ripple, a blockchain payments company, which is seen as a strategic move to address supply-demand challenges in the market [5][6] - The partnership aims to create a "full capital market stack," combining Ripple's custody acquisitions and stablecoin offerings with Hidden Road's prime brokerage services [6]