Hidden Road鈥檚 Abu Dhabi Global Market entity secures approval
08 May 2025 Abu Dhabi
Image: Fre虂de虂ric_Prochasson/stock.adobe.com
Hidden Road鈥檚 Abu Dhabi Global Market (ADGM) entity, Hidden Road Partners CIV, has received in-principle approval from the Financial Services Regulatory Authority (FSRA).
The approval will allow the entity to operate as a regulated financial services firm, which will offer clearing and prime brokerage services across its global suite of traditional and digital asset products to institutional investors in the United Arab Emirates (UAE).
James Stickland, UAE CEO at Hidden Road, comments: 鈥淩eceiving our IPA from ADGM marks a significant milestone for our business. ADGM鈥檚 high regulatory standards make it a key market for institutional growth.鈥�
According to Noel Kimmel, president at Hidden Road, the firm鈥檚 goal is to equip clients with access to both traditional and digital markets.
Kimmel adds: 鈥淲e continue to actively pursue regulatory approvals around the world to deliver on that commitment, recognising the confidence and transparency that follows when operating under clear regulatory frameworks.鈥�
Arvind Ramamurthy, chief of market development at ADGM, says: 鈥淭he expansion of [Hidden Road鈥檚] services within the international financial centre is a testament to the immense opportunities available within Abu Dhabi.鈥�
Hidden Road鈥檚 approval from ADGM鈥檚 FSRA follows its recent definitive agreement on 8 April to be acquired by Ripple, a provider of digital asset infrastructure for financial institutions, for US$1.25 billion.
With the backing of Ripple's balance sheet, Hidden Road says it will expand its capacity to service its pipeline and become one of the largest non-bank prime brokers globally. The deal is expected to close in the coming months, subject to regulatory approvals.
The approval will allow the entity to operate as a regulated financial services firm, which will offer clearing and prime brokerage services across its global suite of traditional and digital asset products to institutional investors in the United Arab Emirates (UAE).
James Stickland, UAE CEO at Hidden Road, comments: 鈥淩eceiving our IPA from ADGM marks a significant milestone for our business. ADGM鈥檚 high regulatory standards make it a key market for institutional growth.鈥�
According to Noel Kimmel, president at Hidden Road, the firm鈥檚 goal is to equip clients with access to both traditional and digital markets.
Kimmel adds: 鈥淲e continue to actively pursue regulatory approvals around the world to deliver on that commitment, recognising the confidence and transparency that follows when operating under clear regulatory frameworks.鈥�
Arvind Ramamurthy, chief of market development at ADGM, says: 鈥淭he expansion of [Hidden Road鈥檚] services within the international financial centre is a testament to the immense opportunities available within Abu Dhabi.鈥�
Hidden Road鈥檚 approval from ADGM鈥檚 FSRA follows its recent definitive agreement on 8 April to be acquired by Ripple, a provider of digital asset infrastructure for financial institutions, for US$1.25 billion.
With the backing of Ripple's balance sheet, Hidden Road says it will expand its capacity to service its pipeline and become one of the largest non-bank prime brokers globally. The deal is expected to close in the coming months, subject to regulatory approvals.
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