Hidden Road, the Citadel Securities-backed brokerage firm, has recently announced a new partnership with Bitfinex. This collaboration comes just two weeks after Hidden Road severed ties with Bybit.
Bitfinex will now provide institutional investors using Hidden Road’s services access to a wide range of cryptocurrencies. In a press release on Jun. 13, Bitfinex shared that institutional investors associated with Hidden Road will benefit from services such as peer-to-peer financing, over-the-counter markets, and margin trading through this partnership. The specific terms of the collaboration were not disclosed, but both parties expressed excitement about the potential benefits it will bring to their clients.
Michael Higgins, the Global Head of Business Development at Hidden Road, commented on the partnership, emphasizing the firm’s commitment to enhancing access and choice for their counterparties. The integration with Bitfinex is seen as a strategic move to offer investors access to a reputable platform in the crypto space.
This partnership follows reports that surfaced a few weeks ago indicating Hidden Road’s decision to cease providing access to Bybit for its clients. The brokerage firm cited disagreements with Bybit over compliance procedures as the reason for this move.
Founded in 2018 by Marc Asch, Hidden Road specializes in cross-margining, margin financing, and prime brokerage services for cryptocurrencies. In 2022, the firm successfully raised million in a Series A funding round, with prominent investors like Castle Island Ventures, Citadel Securities, and FTX Ventures participating in the funding.
Overall, the partnership between Hidden Road and Bitfinex marks a significant development in the institutional access to digital assets landscape, as institutional investors now have access to a broader range of crypto services through this collaboration.
