Hidden Road Cracks Abu Dhabi: Crypto Prime Broker Nabs In-Principle License as Middle East Gold Rush Heats Up

Another day, another crypto firm chasing petrodollars—but this one might actually matter. Hidden Road, the institutional-focused prime broker, just secured an in-principle nod from Abu Dhabi’s Financial Services Authority (FSA).

Why it burns: The Middle East is the new regulatory Wild West, and everyone’s staking claims. Hidden Road’s move follows rivals like Binance and Kraken planting flags in the sand. Smart play? Maybe. Desperate land grab? Almost certainly.

The ripple effect: With XRP’s legal limbo and Ripple’s own UAE ambitions, Abu Dhabi’s becoming a crypto contingency plan. Hidden Road’s license lets them offer brokerage and custody services—because nothing says ’trust’ like a jurisdiction that’s still writing the rulebook.

Bottom line: When Wall Street’s compliance headaches meet Dubai’s ’ask-forgiveness-not-permission’ ethos, you get… well, whatever this is. Place your bets—just don’t expect the house to explain the rules.