- UAE’s ADGM approves Hidden Road to open crypto brokerage office in Abu Dhabi
- Ripple plans $1.25B Hidden Road acquisition to boost global institutional expansion
- UAE crypto framework gains traction as Hidden Road, Circle secure regulatory approvals
Hidden Road, the multi-asset prime broker targeted for acquisition by Ripple, received in-principle approval from Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). This initial nod allows Hidden Road to establish a new office in the UAE capital.
Pending final regulatory sign-off, the firm will prepare to offer clearing and prime brokerage services to institutional clients in the region, a company statement shared with CoinDesk confirmed.
Leadership and Governance Plans for Hidden Road Abu Dhabi
Sources familiar with the plans confirm partner James Stickland will spearhead the new Abu Dhabi operation. Stickland, who joined Hidden Road over a year ago, previously served as CEO of Elwood Technologies and Elwood Asset Management.
One source also indicated a member of an Abu Dhabi royal family may join the local board once final regulatory clearance comes through.
Related: Deaton Sees Ripple’s Hidden Road Move as Best Example of Crypto–Wall Street Convergence
Expansion Follows Ripple’s Planned $1.25B Hidden Road Acquisition
This Middle East expansion aligns strategically with Ripple’s planned $1.25 billion acquisition of Hidden Road, a major M&A deal within the digital asset sector. Ripple intends to inject fresh capital into Hidden Road post-acquisition, specifically supporting growth in its financing, clearing, and brokerage services.
This follows Hidden Road recently obtaining FINRA approval to operate as a U.S. broker-dealer, boosting its fixed-income capabilities.
The Abu Dhabi expansion aligns with Ripple’s broader engagement across the UAE. In early 2025, Ripple secured full licensing from the Dubai Financial Services Authority (DFSA), becoming the first blockchain firm to do so. That development opened the way for regulated XRP-based payment services in the country.
Ripple Deepens Its Footprint Across the UAE
Ripple established its Middle East and North Africa (MENA) headquarters in Dubai’s International Financial Centre (DIFC) back in 2020. Earlier this year (early 2025), Ripple secured a full license from the Dubai Financial Services Authority (DFSA), becoming the first blockchain firm with that distinction and enabling regulated XRP-based payment services there.
Additionally, Ripple has partnered with an Abu Dhabi central bank entity to advance XRP-powered remittance services within the estimated $40 billion regional market and committed $10 million to UAE-based tokenized real-world asset (RWA) projects.
Related: Ripple Earns DFSA License to Expand Crypto Payment Solutions in UAE
Hidden Road’s entry into Abu Dhabi highlights the emirate’s growing appeal as a regulated hub for institutional crypto activity. Underscoring this trend, USDC issuer Circle also announced receiving its own in-principle regulatory approval from ADGM just last month. Both moves signal increasing institutional confidence in Abu Dhabi’s crypto framework.
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