Ripple’s Acquisition Target Hidden Road Expands to Abu Dhabi Amid Regulatory Progress

Hidden Road, a prime brokerage specializing in crypto and traditional assets, which recently entered an agreement to be acquired by Ripple, is set to open a new office in Abu Dhabi. The firm has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and could have a member of the Abu Dhabi royal family join its local entity’s board when final approval is granted. Once fully authorized, Hidden Road aims to offer clearing and brokerage services to institutional investors in the UAE. Ripple’s $1.25 billion acquisition is among the largest M&A deals in the digital asset industry. Ripple plans to inject resources to further grow Hidden Road’s operations, with ambitions to become the largest non-bank prime broker worldwide. Additionally, Hidden Road previously obtained FINRA approval as a U.S. broker-dealer, expanding its platform. Institutional activity in the Middle East is growing, with firms like Circle also expanding in the region.