Latest news with #In-PrincipleApproval
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.
Trade Arabia
08-04-2025
- Business
- Trade Arabia
German group Aquila announces strategic Mideast expansion
Aquila Group, a private enterprise headquartered in Hamburg, Germany, which has been driving innovation in clean energy and sustainable infrastructure as both an investor and developer since 2001, today (April 8) announced its strategic expansion into the Middle East with the launch of a new office in Abu Dhabi. It has appointed Zaki Nuseibeh as the Chief Executive Officer of Aquila Capital Middle East. The dual announcement marks a significant milestone in Aquila Group's global expansion and will enable the company to pursue both regional and global opportunities. In line with the In-Principle Approval (IPA) that is subject to final regulatory permissions granted by the Financial Services Authority (FSRA) of ADGM to carry out regulated activities, Aquila Group's newly established office will be based in ADGM's international financial centre. In his new role, Nuseibeh will be responsible for driving the company's GCC expansion from Abu Dhabi. His significant experience and regional expertise will be instrumental in tapping the dynamic investment landscape in the GCC, with a focus on sustainable real asset investments. Aquila Capital Middle East will lead capital raising and investment activities in the region on behalf of funds managed by Aquila Capital - the Group's asset manager, co-owned by German bank Commerzbank. Its activities will centre on deploying capital into energy transition and infrastructure assets, including data centers and renewable energy projects. Roman Rosslenbroich, Chief Executive Officer & Co-founder, Aquila Group, said: "Aquila Capital Middle East, based in Abu Dhabi, will serve as both a hub for the Group's long-term expansion in the region as well as a bridge between our European and Asia-Pacific businesses." "Undeniably, the UAE offers significant opportunities for investors in sustainable real assets, driven by the government's forward-looking initiatives, its focus on driving diversification through innovation and the flourishing green infrastructure ecosystem. As the demand for these investments continues to grow, we are well positioned to bring our expertise in clean energy and sustainable infrastructure investments and project development to the region," he added. Nuseibeh said the decision to establish a presence in Abu Dhabi reflects the group's deep confidence in the UAE's economic growth and its rapidly evolving energy infrastructure. "We aim to serve local investors and support their growing exposure to private market opportunities by offering access to Aquila Capital's sustainable real asset strategies. We also plan to invest, alongside our clients and partners, in regional projects that promote sustainable development by creating tailored thematic products for the region in the future," he noted. "I look forward to leading the company's expansion in such a dynamic market and delivering on Aquila Group's long-term vision and commitment to sustainable investment on a global scale," he added. With over euro 25 billion in transactions and euro15.4 billion in assets under management, the company has established a solid track record. Aquila Group has developed 2.5 GW of its own clean energy projects, including solar PV, wind energy and battery energy storage systems and has a 19 GW portfolio of installed or development capacity today. It has around 700 employees across 20 offices globally.- TradeArabia News Service
