July 24, 2024
Latest Cryptocurrency News

Hidden Road Teams with Bitfinex for Digital Asset Expansion

Bitfinex, a leading cryptocurrency exchange under the iFinex umbrella, has announced a strategic partnership with Hidden Road, a prominent prime brokerage supported by Citadel Securities. This collaboration aims to bolster institutional exposure to digital assets through enhanced trading capabilities and robust security measures.

Bitfinex disclosed on June 13th that the integration with Hidden Road will introduce a range of new digital assets and advanced security tools to the brokerage’s institutional offerings. These additions include derivatives trading, spot trading, peer-to-peer financing, over-the-counter (OTC) trading, and margin trading.

https://twitter.com/bitfinex/status/1801193217850806783

Bitfinex’s Role and Offering

As part of iFinex, Bitfinex is renowned for its extensive trading features, deep liquidity, and a broad spectrum of trading pairs. Bill Brindise, head of business development at Bitfinex, emphasized their commitment to providing cutting-edge services supported by stringent security infrastructure.

Impact and Industry Response

The partnership comes shortly after Hidden Road ceased its crypto services with Bybit due to compliance issues related to KYC and AML procedures. Bybit, headquartered in Dubai, recently tightened its KYC policies, affecting users aiming to withdraw over 20,000 USDT daily.

Hidden Road’s Expansion and Vision

Founded in 2018, Hidden Road has established itself as a versatile prime brokerage across various asset classes, including cryptocurrencies. Michael Higgins, Hidden Road’s global head of business development, highlighted the company’s dedication to technological advancement and seamless client experiences.

The collaboration with Bitfinex underscores Hidden Road’s commitment to broadening access and choice for institutional investors. Thus, solidifying its position in the evolving digital asset landscape.

Furthermore, in April 2024, Hidden Road sought to raise $120 million in funding. This indicates strong investor confidence in its growth trajectory and market positioning.

Overall, the partnership between Hidden Road and Bitfinex is poised to redefine institutional access to digital assets. Thus, promising enhanced trading opportunities and security standards in the competitive cryptocurrency market.

Image by rawpixel.com on Freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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