Hidden Road, a brokerage firm backed by Citadel Securities, has partnered with Bitfinex, just two weeks after ending its relationship with Bybit. This collaboration will enable institutional investors using Hidden Road’s services to access cryptocurrencies via Bitfinex.

In a recent announcement, the crypto exchange stated that Hidden Road’s extensive institutional investor base will now gain access to Bitfinex’s supported cryptocurrencies. While specific terms of the partnership remain undisclosed, the exchange emphasized that institutional investors will benefit from services such as peer-to-peer financing, over-the-counter markets, and margin trading.

Michael Higgins, Hidden Road’s global head of business development, commented on the partnership, noting that the integration with Bitfinex enhances access and choice for their counterparties.

The partnership follows reports that Hidden Road had ceased offering its clients access to trading on Bybit due to disagreements over Bybit’s know-your-customer and anti-money laundering procedures.

Founded in 2018 by Marc Asch, Hidden Road offers cross-margining and margin financing across cash, cleared derivatives, and over-the-counter swaps products. The firm also provides prime brokerage services with a focus on cryptocurrency.

In 2022, Hidden Road raised $50 million in a Series A funding round led by Castle Island Ventures. Other investors included Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, and Coinbase Ventures.

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