Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has granted Securrency Capital a license to provide digital assets/crypto trading services to its clients.
Securrency Capital received a Financial Services Permission (FSP) from the Abu Dhabi Global Market’s (AGDM) Financial Services Regulatory Authority (FSRA) on April 12, according to a news statement.
The FSRA has given the brokerage business Category 3A brokerage status. To capitalize on burgeoning crypto demand in the region, the company will use the license to allow institutional and individual investors to trade digital assets.
As a matched principle, the corporation will now trade in investments and provide custodial services. In addition, the broker will provide digital asset trading services to clients interested in investing in cryptocurrencies.
Securrency Capital’s Chairman and CEO, Amir Tabch, said the move will allow the company to extend its product offerings while also leveraging its asset tokenization technology.
Securrency Capital will concentrate on providing high-quality, dependable digital asset services in the UAE and around the world. Furthermore, after obtaining additional FSRA certifications, the company plans to expand into the digital asset area.
Crypto exchanges receive regulatory license in the Middle East
Binance, the world’s largest crypto exchange, recently announced that it had received approval from the FSRA to operate in Abu Dhabi. Binance received a license to operate in Dubai only a few weeks prior to the announcement.
Other cryptocurrency exchanges, such as FTX and Bybit, have acquired regulatory permission across the Middle East, including Bahrain, as well as Dubai, and Abu Dhabi.
Furthermore, due to the availability of power supplies and favorable legislation, crypto mining behemoths are trying to expand into the Middle East.
