Latest news with #CeydaMajcen
Crypto Insight
22-05-2025
- Business
- Crypto Insight
Bitcoin Suisse eyes UAE expansion with regulatory nod in Abu Dhabi
Bitcoin Suisse secured an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), marking a major step in the Swiss crypto firm's expansion beyond the European Union. The Swiss crypto financial service provider received the in-principle approval through its subsidiary BTCS (Middle East), according to a May 21 news release. The IPA is a precursor to a full financial services license, which would allow Bitcoin Suisse to provide regulated crypto financial services such as digital asset trading, crypto securities and derivatives offerings, as well as custody solutions. The approval reflects the firm's 'strong commitment to maintaining the highest standards of transparency, security, and regulatory compliance,' according to Ceyda Majcen, head of global expansion and designated senior executive officer of BTCS (Middle East). 'Abu Dhabi, one of the Middle East's fastest-growing financial centers, presents a compelling opportunity for growth. We look forward to working closely with the FSRA to obtain our full license,' Majcen wrote in a May 21 X announcement. This marks Bitcoin Suisse's first expansion outside of the European Union. Founded in 2013, Bitcoin Suisse played a significant role in developing the country's crypto ecosystem and has been a key contributor to Switzerland's Crypto Valley, a Switzerland-based blockchain ecosystem valued at more than $500 billion. Crypto firms bet on Middle East as next global crypto hub Increasingly more crypto firms are expanding into the Middle East, seeing the region as the next potential global crypto hub due to its business-friendly regulatory licensing environment. On April 29, Circle, the issuer of the world's second-largest stablecoin, USDC, received an in-principle approval from the FSRA, moving one step closer to the full license to become a regulated money service provider in the United Arab Emirates. A day earlier, the Stacks Asia DLT Foundation partnered with ADGM, becoming the first Bitcoin-based organization to establish an official presence in the Middle East, Cointelegraph reported on April 28. As part of the partnership, the Stacks Foundation aims to advance progressive regulatory frameworks in the Middle East. 'We're not just focused locally — our team is engaged in global conversations, advocating for frameworks that balance decentralization, security, innovation, and compliance surrounding the unlocking of Bitcoin capital,' Kyle Ellicott, executive director at Stacks Asia DLT Foundation, told Cointelegraph. The foundation is also developing the Bitcoin Capital Activation Framework, described as a comprehensive policy blueprint to help regulators enable Bitcoin utility in their jurisdictions. Source:
Fintech News ME
21-05-2025
- Business
- Fintech News ME
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.
Zawya
21-05-2025
- Business
- Zawya
Bitcoin Suisse secures In-Principle Approval from ADGM's FSRA
Abu Dhabi – Bitcoin Suisse, the leading Swiss crypto financial service provider, is proud to announce that its subsidiary BTCS (Middle East) Ltd. has received an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of ADGM. This milestone represents a significant step forward in Bitcoin Suisse's strategic expansion, reinforcing its commitment to regulatory compliance, financial innovation, and global growth. With this achievement, Bitcoin Suisse is set to expand into the Middle East, introducing a refined and client-centric approach to crypto finance. The granting of the IPA from ADGM's FSRA paves the way for Bitcoin Suisse to secure full licensing soon, allowing it to provide regulated crypto financial services - including trading of virtual assets, crypto securities and derivatives, as well as local custody - within the ADGM's dynamic international financial center. ADGM is recognized as one of the most advanced and well-regulated jurisdictions. Its virtual asset framework is globally acknowledged for its comprehensive regulations, making it the largest regulated hub for virtual assets in the MENA region. 'The In-Principle approval marks an important milestone in our global expansion journey,' said Ceyda Majcen, Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East) Ltd. 'It reflects our strong commitment to maintaining the highest standards of transparency, security, and regulatory excellence. Abu Dhabi, one of the Middle East's fastest-growing financial centers, presents a compelling opportunity for growth. 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 Officer at ADGM, said, 'ADGM congratulates Bitcoin Suisse on receiving its IPA from the FSRA of ADGM. 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 has built a strong reputation as a trusted crypto financial service provider in Switzerland, offering secure and compliant crypto asset solutions for private individuals and institutional clients with its deep expertise, precision and personal engagement. The company securely holds over USD $6 billion (AED 22.2 billion) in digital assets under custody and more than USD $2.6 billion (AED 8.9 billion) in institutional staking services, making it one of the largest providers of digital asset custody and institutional staking solutions globally. By entering the ADGM ecosystem, Bitcoin Suisse aims to leverage the region's progressive regulatory framework to offer its clients a robust, transparent, and fully regulated platform for its crypto financial services. The In-Principle Approval reflects Bitcoin Suisse's robust operational standards, commitment to risk management, and ability to meet the high standards set by regulatory authorities. As BTCS (Middle East) Ltd. advances toward full licensing, it will continue to enhance its product suite and operational capabilities to best serve its international client base. About Bitcoin Suisse Bitcoin Suisse is Switzerland's leading premium crypto finance service provider. Founded in 2013 by crypto-native experts, it offers a cohesive suite of trading, staking, custody and lending services geared towards private and institutional clients. The company is headquartered in Zug and has built a team of over 200 highly qualified experts in Switzerland, Europe and the Middle East.
