Hidden Road Wins Broker-Dealer License After Ripple Acquisition

Hidden Road received a license to operate as a broker-dealer, part of the firm’s expansion of its prime-brokerage business to reach more institutional investors.

The company, which last week announced its acquisition by digital-asset firm Ripple, got the approval from the Financial Industry Regulatory Authority, according to Hidden Road President Noel Kimmel.

The move “enables us to transact a much broader universe of customers,” Kimmel said in an interview, adding that “it’s a next step as we build out the platform.”

By gaining the broker-dealer registration with Finra, Hidden Road can provide both current and new institutional investors with ...