Bitcoin Suisse Secures In-Principle Approval to Operate in ADGM
Bitcoin Suisse, a Swiss crypto financial services provider, has announced that its subsidiary, BTCS (Middle East), has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).
This development is part of Bitcoin Suisse's ongoing international expansion and will allow the firm to move toward obtaining full authorisation to operate within ADGM.
Upon securing full licensing, BTCS (Middle East) Ltd. will be permitted to offer regulated crypto financial services in Abu Dhabi, including virtual asset trading, crypto securities and derivatives, as well as local custody services.
ADGM is recognised for its advanced regulatory framework and is considered a key jurisdiction for virtual assets in the MENA region.
The FSRA's virtual asset regulations are among the most comprehensive globally, positioning ADGM as a major hub for digital finance.
Ceyda Majcen, Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East), commented:
'The In-Principle approval marks an important milestone in our global expansion journey. It reflects our strong commitment to maintaining the highest standards of transparency, security, and regulatory excellence. We look forward to working closely with the FSRA to obtain our full license and bring our decade of experience in crypto finance to the region's rapidly evolving digital asset ecosystem.'
Arvind Ramamurthy, Chief of Market Development at ADGM, said:
'ADGM congratulates Bitcoin Suisse on receiving its IPA from the FSRA. Their expansion plans to the region to provide regulated crypto financial services within the international financial centre is a testament to the immense opportunities available within Abu Dhabi. We look forward to Bitcoin Suisse receiving their Financial Services Permission (FSP) and their contribution to ADGM's dynamic ecosystem.'
Bitcoin Suisse currently manages over US$6 billion (AED 22.2 billion) in digital assets under custody and more than US$2.6 billion (AED 8.9 billion) in institutional staking services.
With its entry into the ADGM ecosystem, the firm aims to operate within a regulated framework that supports the delivery of crypto financial services to clients in the region.
The IPA indicates that BTCS (Middle East) has met the FSRA's initial regulatory standards.
The company will continue to develop its product offerings and operations as it progresses toward full licensing.
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