Hidden Road

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Hidden Road
Founded 2018
Headquarters London, British Virgin Islands, New York and Singapore
Employees 80+
Products Digital Assets and Foreign Exchange Prime Brokerage
Website https://hiddenroad.com/

Hidden Road Partners is a prime brokerage focused on digital assets and foreign exchange.

The firm allows banks or other institutions that can't hold digital assets directly to post dollars as collateral in a “tri-party” setup with a custodian, and receive profits and losses in dollars. Clients can trade with exchanges as well as liquidity providers including Virtu Financial Inc., Optiver BV and Wintermute Trading Ltd.[1]

Hidden Road provides clearing and financing for customers’ trading activities, but clients have to execute those trades themselves, according to Justin Chow, the firm's head of digital assets. It raises capital from investors such as pension funds and pays them a return on capital, which it generates by providing financing to clients for their trading activities. Hidden Road itself mitigates risks by using a real-time system, which sets risk limits and requires portions of collateral upfront.[2]

The company said it plans to enter futures and options clearing.


Hidden Road was founded in 2018 by Marc Asch, formerly with SAC Capital and Point72 Asset Management. The firm started with foreign-exchange services and then expanded into digital assets. It is based in the British Virgin Islands and named after the street in Massachusetts where Asch grew up.

In July 2022, Hidden Road completed a $50 million Series A funding round led by Castle Island Ventures, with participation from Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, Coinbase Ventures and Corner Capital, among other global investors.[3] At the end of August 2022 executives at the firm said it was in discussions with hedge funds and many of the top 20 global banks about providing access to trade or hedge their crypto risks.

Products and Services[edit]

Prime Brokerage

  • FX & Precious Metals
  • Digital Assets (Exchanges & OTC)


  • Derivatives Clearing (Futures & Options)
  • Sponsored Access & Direct Market Access


  • Derivatives Margin Financing
  • Digital Asset Margin Financing

Key People[edit]