UAE Approves Ripple-Backed Hidden Road to Open Abu Dhabi Crypto Office

• 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.

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