Hidden Road, a New York-based prime brokerage specializing in cryptocurrencies and foreign exchange, is considering strategic options such as a sale or capital raise. These moves could potentially value the company at over $1 billion. The firm is collaborating with a financial adviser to explore these possibilities. Hidden Road serves institutional investors and aims to broaden its offerings to include fixed-income financing.

Hidden Road, a prime brokerage that focuses on cryptocurrencies and foreign exchange, is weighing options including a sale or capital raise that could value the company at more than $1 billion, according to people with knowledge of the matter. The New York-based company has been working with a financial adviser, said the people, who asked not to be identified because the details aren’t public. Hidden Road caters to institutional investors and is planningBloomberg Terminal to expand its services into new asset classes including fixed-income financing. 

Hidden Road Considers Sale or Capital Raise, Valued Over $1 Billion