Hidden Road Partners Closes $50 Million Financing with Participation from Coinbase Ventures and Others

Hidden Road Partners, a digital asset and foreign exchange brokerage firm, has closed a $50 million round of funding with participation from Coinbase Ventures, Citadel Securities, FTX Ventures and others. The company aims to ease Wall Street’s entry into crypto trading by tackling counterparty risks and conflicts of interest. For banks or other institutions that cannot hold crypto assets directly, Hidden Road Partners allows them to host US dollars as collateral in a "three-way" setup with a custodian and collect profits and losses in US dollars.