Hidden Roadās Abu Dhabi Global Market entity secures approval
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Hidden Roadās Abu Dhabi Global Market entity secures approval 08 May 2025Abu Dhabi Reporter: Carmella Haswell
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Hidden Roadās 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: āReceiving our IPA from ADGM marks a significant milestone for our business. ADGMās high regulatory standards make it a key market for institutional growth.ā
According to Noel Kimmel, president at Hidden Road, the firmās goal is to equip clients with access to both traditional and digital markets.
Kimmel adds: āWe 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.ā
Arvind Ramamurthy, chief of market development at ADGM, says: āThe expansion of [Hidden Roadās] services within the international financial centre is a testament to the immense opportunities available within Abu Dhabi.ā
Hidden Roadās approval from ADGMās 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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