Key Notes
- Bitcoin Suisse has bagged the in-principle approval from ADGM’s FSRA for Middle East expansion.
- A full license will allow regulated crypto trading, custody, and derivatives services.
- Abu Dhabi’s strong regulations offer growth opportunities beyond Switzerland.
Bitcoin Suisse has received in-principle approval from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority. This is a significant move in its plan to expand operations beyond Switzerland and into the Middle East.
Bitcoin Suisse Makes Strong Step Forward in Abu Dhabi
According to the firm’s announcement, Bitcoin Suisse has reached a crucial point in its plan to grow in the region. The company received an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market.
The company’s regional arm, BTCS (Middle East) Ltd, was approved to operate in the region. This brings the Swiss crypto financial service provider closer to offering fully licensed operations in the UAE.
Once the full financial services license is granted, Bitcoin Suisse can provide regulated crypto services in the ADGM. These services include trading virtual assets, handling crypto securities and derivatives, and offering digital custody solutions.
According to the update, this development positions the company to serve institutional clients and private investors in a regulatory environment known for its transparency and structure.
Ceyda Majcen, Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East), described the approval as a major step forward. She emphasized the company’s focus on maintaining high standards in transparency and security.
She added that Abu Dhabi is among the fastest-growing financial centres in the Middle East. The region offers substantial opportunities for long-term growth, making it an attractive market for Bitcoin Suisse’s expansion.
The ADGM is widely respected for its comprehensive virtual asset framework, which has attracted other international firms. It is currently regarded as one of the largest regulated hubs for virtual assets across the MENA region.
In related news, Coinspeaker noted that Strive Asset Management is making a bold bet on Bitcoin. This company aims to build a 75,000-BTC treasury through discounted Mt.Gox claims. This is because the crypto regulatory framework in the United States is becoming more friendly.
The Underlying Implication for BTC Price
It is worth noting that the IPA is now secured. Bitcoin Suisse is working towards obtaining its full Financial Services Permission (FSP). According to the company, this phase will involve continued collaboration with the FSRA and further strengthening internal operations to meet local requirements.
Bitcoin Suisse has built a strong name in Switzerland, managing over $6 billion in digital assets under custody and over $2.6 billion in institutional staking services. It is important to add that by entering the Abu Dhabi market, the firm aims to replicate its Swiss success. It intends to use a client-focused approach grounded in regulatory compliance.
Coinspeaker recently reported that Bitcoin
BTC
$96 611
24h volatility:
2.1%
Market cap:
$1.92 T
Vol. 24h:
$29.09 B
reached a major milestone. The largest cryptocurrency surpassed $107,000, with its realized market cap hitting an all-time high. CoinMarketCap data shows that BTC is currently trading at $106,601.60, up by 1.24%.
With the Bitcoin Suisse news and other BTC-centric bullish news over the past month, the coin may finally retest its ATH.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
