Ripple’s M&A Acquisition Unveils Secret Plans for a Royal Twist in Abu Dhabi!

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What to know:

  • Hidden Road is opening a new office in Abu Dhabi, with James Stickland, a firm partner, leading the business in the region.
  • A member of the Abu Dhabi royal family could potentially join the board of the company’s local entity. 👑
  • The prime broker has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of ADGM. 💼

Hold on to your hats, because it turns out Hidden Road, that crypto-and-traditional-assets hybrid broker, is launching an office in Abu Dhabi. Who knew?! And guess who’s taking the reins? None other than James Stickland, the partner at the firm. Though, because no one ever does anything without a bit of mystery these days, the sources on this info are “anonymous,” presumably to keep things spicy. 🤫

They’ve got the all-important “in-principle approval” from the Financial Services Regulatory Authority (FSRA). How official does that sound? Very, if you ask me. 🙄

In what could be an unexpected twist (because nothing in crypto happens without at least one), a member of the Abu Dhabi royal family might join the board. Yes, you read that right—a royal. When the company gets its final regulatory approval, of course. Guess the UAE is where all the financial magic happens now.✨

Once the final stamp of approval is in, Hidden Road will be free to offer clearing and prime brokerage services to institutional investors in the UAE. Big things, my friend. Big things. 👌

And no, they’re not alone in this whole “let’s go global” thing. Circle, the issuer of USDC (which is, apparently, the second-largest stablecoin in the world), also got the nod for expansion in the Middle East last month. Seems like everyone wants a piece of that sweet, sweet desert gold. 🏜️

In case you’re wondering, prime brokers are like the unsung heroes of financial markets. They handle the boring stuff—trading, financing, and custody services to the big boys. But trust me, without them, the whole thing would fall apart faster than a bad crypto trade. 😅

And just when you think the plot can’t thicken, in walks James Stickland. Former CEO of Elwood Technologies, backed by the legendary hedge fund guy Alan Howard. He joined Hidden Road over a year ago. Because why not bring in a big gun, right? 💥

In one of the largest M&A deals in the digital asset industry (yes, you guessed it), Ripple agreed to buy Hidden Road for a cool $1.25 billion. I mean, I don’t know about you, but I’d probably buy a few private islands with that sort of cash. 🌴

Ripple is not holding back. They’re going to inject some “fresh capital” into Hidden Road and, no surprise, turn it into the largest non-bank prime broker in the world. A lofty goal, but hey, when you’re Ripple, why not? 🌍

And just in case you missed it, Hidden Road got FINRA approval to operate as a U.S. broker-dealer. More paperwork? Definitely. But it makes their fixed income platform look *so* much more legit. 📑

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2025-05-08 14:19