Hidden Road to Open New Office in Abu Dhabi Following Ripple Acquisition
Hidden Road is opening an office in Abu Dhabi, led by partner James Stickland. The firm has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of ADGM.
- The office will offer clearing and prime brokerage services to institutional investors upon final regulatory approval.
- A member of the Abu Dhabi royal family may join the board of the local entity.
- Ripple agreed to acquire Hidden Road for $1.25 billion, one of the largest M&A deals in the digital asset sector.
- Hidden Road plans to expand its operations with new capital from Ripple to become the largest non-bank prime broker globally.
- Hidden Road has also received FINRA approval to operate as a U.S. broker-dealer, enhancing its fixed income services.