Ripple's Merger and Acquisition Strategy Leads to New Office Opening in Abu Dhabi
Business/Finance

Ripple's Merger and Acquisition Strategy Leads to New Office Opening in Abu Dhabi

Hidden Road, the prime broker recently acquired by Ripple, is set to open a new office in Abu Dhabi, possibly with a member of the royal family joining its board.

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Overview

Hidden Road, a prime broker with focus on both crypto and traditional assets, is poised to expand its footprint by establishing a new office in Abu Dhabi following its acquisition by Ripple.

Key Highlights

  • The office in Abu Dhabi will be spearheaded by James Stickland, a partner at Hidden Road.
  • There is potential for a member of the Abu Dhabi royal family to join the company’s local board.
  • The firm has secured in-principle approval from the Financial Services Regulatory Authority (FSRA) of ADGM.

Expansion and Impact

Upon receiving final regulatory approval, Hidden Road will be authorized to offer clearing and prime brokerage services to institutional investors in the UAE. This strategic move is part of a broader trend, as Circle, known for issuing the USDC stablecoin, also received regulatory nods for expansion in the region.

James Stickland previously held CEO positions at Elwood Technologies. Under Ripple’s leadership, the company aims to lead as the largest non-bank prime broker globally, with a notable acquisition transaction valued at $1.25 billion.

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