May 10, 2025

Hidden Road, a crypto prime broker recently acquired by Ripple, has obtained in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a regulated financial services firm. This approval enables Hidden Road to offer clearing and prime brokerage services for both traditional and digital assets to institutional […]

Oman is contemplating the sale of a stake in its natural gas assets valued at approximately $8 billion. This move aims to bolster state finances and fund strategic investments, reflecting the country’s efforts to optimize its energy sector portfolio. Source: World News

Kuwait has experienced a decrease in gold demand, with a 5% year-on-year drop in the first quarter of 2025. This decline is attributed to rising gold prices and prevailing economic uncertainties, reflecting cautious consumer behavior in the current financial climate.   Source: Arab Times

Saudi Arabia is expediting its transition towards a cashless society, propelled by a burgeoning fintech sector, increasing consumer adoption of digital services, and supportive regulatory frameworks. This initiative aligns with the Kingdom’s Vision 2030 objectives to modernize its financial infrastructure and reduce reliance on cash transactions. Source: Arab News

Abu Dhabi’s International Holding Company (IHC), in collaboration with global investment firm BlackRock, has established a new reinsurance company with an initial capital of $1 billion. The venture aims to enhance the region’s financial services sector and diversify investment portfolios. The new global reinsurance platform will be headquartered in Abu Dhabi Global Market (ADGM) and