Hidden Road Partners Suspends Clients’ Access to Bybit
Hidden Road Partners, a brokerage firm backed by Citadel Securities, has made the decision to suspend its clients’ access to the cryptocurrency exchange Bybit. This move comes after disagreements between the two companies on KYC and AML procedures.
Several weeks ago, Hidden Road informed clients of the changes without providing further details. Bybit, based in Dubai, is now conducting a thorough review of regulatory compliance in its brokerage business to ensure full compliance with rules and regulations.
Specializing in services for institutional cryptocurrency traders, Hidden Road provides trade execution, clearing, and financing services, playing a vital role in maintaining liquidity in the digital assets market. With a market capitalization of $1 billion and having raised $120 million in a Series B financing round in April 2024, Hidden Road is a major player in the industry.
The suspension of access to Bybit emphasizes the importance of adhering to KYC and AML standards in the cryptocurrency sector and highlights how conflicts between key market players can impact traders’ access to essential trading platforms.
