Ripple's acquired prime brokerage platform, Hidden Road, has launched a crypto over-the-counter (OTC) service for U.S. institutions.
Hidden Road will offer U.S. institutional clients the ability to settle OTC swaps across major cryptocurrencies with cash.
The move aims to provide U.S. institutions access to a wider range of products and solutions, which were previously unavailable.
Ripple's acquisition of Hidden Road for $1.5 billion is part of its strategic plan to expand institutional flows into the XRP Ledger and enhance liquidity management.