Shortly after severing connections with Bybit, the brokerage business Hidden Road, sponsored by Citadel Securities, has teamed up with Bitfinex.
Institutional investors that use Hidden Road, a premier brokerage firm supported by Citadel Securities, will now have access to cryptocurrency through Bitfinex.
The cryptocurrency exchange announced that Hidden Road’s “extensive institutional investor base” will have access to Bitfinex’s list of supported cryptocurrencies as a result of the cooperation in a press statement dated June 13.
Although the partnership’s details were not made public, the exchange made clear that institutional investors will profit from services, including margin trading, over-the-counter markets, and peer-to-peer financing.
The integration with Bitfinex “underscores our efforts to enhance access and choice, and we are happy to offer our counterparties access to this preeminent venue,” said Michael
Higgins, global head of business development at Hidden Road, in a statement regarding the partnership. A “disagreement” about Bybit’s know-your-customer and anti-money laundering processes was cited as the reason for the brokerage business in London ceasing to provide its clients with trading access on the platform before the partnership was official.
Hidden Road, founded in 2018 by Marc Asch, offers margin financing and cross-margining for cash, cleared derivatives, and over-the-counter swaps products.
With an emphasis on cryptocurrencies, the company also provides elite brokerage services. A $50 million Series A fundraising round headed by Castle Island Ventures was held by Hidden Road in 2022. Wintermute, XBTO Humla Ventures, Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, and Coinbase Ventures were among the other investors.
