Hidden Road, a broker acquired by Ripple for $1.25 billion, has launched an over-the-counter (OTC) cryptocurrency swap trading service in the United States. This new service enables institutional investors to execute large transactions settled in cash, covering a range of mainstream crypto assets. The service is operated by a UK FCA-regulated entity, and Hidden Road has secured both a US FINRA broker license and an EU MiCA license, ensuring compliance with regulatory standards.