Tag: Middle East

USDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29. The approval moves Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the…

The Stacks Asia DLT Foundation has become the first Bitcoin-based organization to establish an official presence in the Middle East, aiming to promote institutional Bitcoin adoption through expanded educational initiatives. Midd— one of the world’s fastest-growing financial centers — in a move that could boost the adoption of its Bitcoin layer-2 (L2) solution in the Middle…

The M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody digital assets. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has granted financial services permission to virtual asset firm M2 to operate a multilateral trading facility from the United Arab Emirates…

Among the 300 finance professionals surveyed across 45 countries, 97% believe that blockchain will play a crucial role in faster payment systems within the next three years. Blockchain has the potential to save financial institutions approximately $10 billion in cross-border payment costs by the year 2030, according to a recent report. Published by digital payment network…

The announcement followed crypto exchange Binance receiving similar permission from the Abu Dhabi regulator in November 2022. The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority has granted its financial services permission for cryptocurrency firm Rain to offer brokerage and custody services to residents. In a July 25 announcement, Rain said the regulatory approval will allow…

The Middle Eastern arm of the exchange said it had opened an office in the Dubai World Trade Center and planned to increase its staff to 30 people. The Middle Eastern arm of cryptocurrency exchange OKX reported Dubai’s Virtual Assets Regulatory Authority (VARA) had granted the firm a minimal viable product preparatory license as part…