Key Points:

  • Hidden Road Partners CIV UK Limited has been granted registration as a digital asset firm in the UK by the Financial Conduct Authority.

  • The company is the only prime broker with both an FCA investment firm license and an FCA digital asset firm registration.

  • In testimony before Parliament last month, FCA Executive Director for Markets Sarah Pritchard noted that just 5% of the applications received were deemed fit for processing, and of those, only 27% were approved.

The Financial Conduct Authority (FCA) has approved the registration of Hidden Road Partners CIV UK Limited as a digital asset firm in the UK, according to an announcement from Hidden Road, a global credit network for institutional investors.

Hidden Road is the only prime broker with both an FCA investment firm license and an FCA digital asset firm registration. This makes it possible for Hidden Road to offer products that are both spot and derivatives of both FX and digital assets.

Michael Higgins, Global Head of Business Development for Hidden Road, stated:

“Our institutional client base has long sought like-minded partners who embrace regulatory infrastructure, and this latest approval further demonstrates our commitment to positively shaping the digital asset markets. We are pleased that our UK digital asset operations will be overseen by a regulator as respected as the FCA, and we look forward to partnering with the authority to bring greater stability and institutional adoption to the asset class.”

Only 41 companies have been registered by the FCA as digital asset enterprises as of this writing. Additionally, Sarah Pritchard, the FCA’s executive director for markets, stated in testimony before Parliament last month that only 27% of applications were granted out of the 5% that were deemed suitable for processing.

In October, the company established a primary over-the-counter (OTC) brokerage for digital assets, the OTC offering will be available to US and worldwide counterparties and intends to increase institutional use of digital assets. The offering will give counterparties ownership and control over their fiat and digital asset execution technologies, liquidity, and custodian choice.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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