Bitfinex partners with Hidden Road to enhance institutional crypto access
Bitfinex partners with Hidden Road to enhance institutional crypto access
This collaboration is aimed at boosting institutional access to digital assets and underscores a significant shift in the cryptocurrency landscape, targeting institutional investors with enhanced security and a diversified range of trading options.
In a move to broaden institutional engagement in the crypto market, Bitfinex, a leading cryptocurrency exchange, has partnered with Hidden Road, a prime brokerage backed by Citadel Securities. The partnership, announced on June 13, aims to provide institutional clients with seamless access to digital assets through an array of services including derivatives trading, peer-to-peer (P2P) financing, and over-the-counter (OTC) trading, DailyCoin reported.
Bitfinex, operated by iFinex Inc., the same entity behind Tether, the world’s largest stablecoin, views this partnership as a strategic step towards expanding its institutional offerings. Bill Brindise, Head of Business Development at Bitfinex, emphasized the robustness of Bitfinex's infrastructure, stating, “I am certain that Hidden Road’s customers will enjoy exploring the different products we provide to help institutional and professional investors gain exposure to digital assets”.
Hidden Road, founded in 2018 and headquartered in the United States, has been providing prime brokerage services across various asset classes, including foreign exchange, precious metals, and cryptocurrencies. Michael Higgins, Hidden Road’s Global Head of Business Development, highlighted the importance of modern technology and streamlined workflows in their offerings, expressing confidence that the integration with Bitfinex will enhance access and choice for institutional investors.
This partnership follows Hidden Road’s decision to halt crypto services facilitated by the Bybit exchange due to issues in Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. Bybit, headquartered in Dubai, had introduced mandatory KYC measures earlier in May 2024, which affected users wishing to withdraw more than 20,000 USDT per day.
Partnerships like these are crucial for providing institutional investors with secure and efficient access to digital assets, potentially paving the way for further mainstream acceptance of cryptocurrencies.
See also: Crypto.com launches ETH and SOL staking campaign with $20,000 reward pool
