just now
Hidden Road has announced support for over-the-counter options on digital assets as part of its prime brokerage services suite. The move enables institutional clients to execute OTC options whilst cross-margining these instruments with their broader digital asset portfolios.
The British Virgin Islands-based firm is partnering with digital asset companies QCP and BlockTech as launch partners, providing liquidity and facilitating institutional access to structured and derivatives products from the service's inception.
Michael Higgins, International CEO and Global Head of Corporate Development at Hidden Road
"Historically, options trading in digital assets has been limited, given the bilateral credit involved and lack of cross-margining capabilities. That is no longer the case," said Michael Higgins, International CEO and Global Head of Corporate Development at Hidden Road. "Hidden Road is the first and only prime broker to support cross-margining across all major digital asset product types, including spot, swaps, options, forwards, and cleared derivatives – driving meaningful operational and capital efficiencies."
The launch addresses growing institutional demand for sophisticated risk management tools in digital asset markets. Cross-margining capabilities allow clients to offset positions across different instrument types, potentially reducing capital requirements and improving operational efficiency.
Darius Sit, Founder and CIO of QCP
"Institutional demand for more sophisticated risk management tools continues to grow, and the ability to cross-margin OTC options is a game-changer," said Darius Sit, Founder and CIO of QCP. "We're excited to work with infrastructure providers like Hidden Road who share our vision of building scalable, institutional-grade architecture for digital asset derivatives."
Sander van Zelm, Head of Business Development at BlockTech
BlockTech's involvement brings market-making expertise to the partnership. "Clients can now execute OTC crypto-asset options with Hidden Road, gaining access to a trusted and creditworthy counterparty alongside the benefits of portfolio margin offsets," said Sander van Zelm, Head of Business Development at BlockTech. “This is supported by BlockTech's market-leading pricing power and liquidity, as a top-ranked crypto derivatives market maker.”
The OTC options launch follows Hidden Road's April 2025 agreement to be acquired by Ripple for $1.25 billion. The deal, subject to regulatory approvals and expected to close within months, is positioned to significantly expand Hidden Road's capacity to service institutional clients and establish it as one of the largest non-bank prime brokers globally.
Hidden Road Partners is the global credit network for institutions, enabling seamless access to traditional and digital markets. The company removes complexity and cost in prime brokerage, clearing and financing through its modern technology stack.
