Business
Hidden Road Expands Prime Brokerage Platform
Explore how Hidden Road is enhancing its Prime Brokerage Platform with new features and capabilities, providing clients with expanded services and opportunities in the financial industry.
Hidden Road, a prominent global credit network catering to institutions engaged in digital asset trading, has announced significant enhancements to its prime brokerage platform. The company has integrated a range of major exchanges and expanded the utilization of BlackRock’s BUIDL token as collateral within its network.
New Exchange Integrations
As part of its latest developments, Hidden Road has successfully integrated several key exchanges into its platform. These exchanges include:
- Coinbase International Exchange
- OKX (including Nitro Spreads)
- Deribit (including options)
- Bitfinex
- Bullish (owner of CoinDesk)
- AsiaNext
- SIX Digital Exchange
Utilizing BlackRock’s BUIDL Token
With prevailing high interest rates, institutions involved in substantial digital asset trading are leveraging the opportunity to earn approximately 5% in virtually risk-free returns by holding BlackRock’s BUIDL money market fund token. Michael Higgins, Hidden Road’s global head of business development, emphasized the significance of offering clients the ability to use the BUIDL token as collateral, enabling them to earn interest while trading.
“Clients can post collateral in the form of the BUIDL token to Hidden Road, which we recognize as good margin. This allows them to finance trades on exchanges using assets that generate interest,” Higgins explained.
Partnering with CME for Margin Trading
Building on its existing partnership with the Chicago Mercantile Exchange (CME), Hidden Road now facilitates cross-margin and margin finance for digital asset tokens like BUIDL on the CME. Higgins highlighted the unique offering of allowing customers to utilize digital assets as margin for trading on the CME while earning interest, distinguishing Hidden Road as a pioneering clearing firm in this regard.
Expanded Network
In addition to the exchange integrations, Hidden Road has welcomed liquidity providers B2C2, IMC, and Laser Digital, along with software vendors Talos and TT, to join its growing network.