Bitcoin Suisse, a leading Swiss crypto financial service provider, announced that its subsidiary BTCS (Middle East) Ltd. has secured an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This approval marks a significant strategic milestone, positioning Bitcoin Suisse for full licensing to offer regulated crypto financial services in the Middle East.
The IPA allows the company to provide services such as trading of virtual assets, crypto securities, derivatives, and custody solutions within ADGM's well-regulated international financial center. ADGM is considered a progressive jurisdiction with a comprehensive virtual asset regulatory framework, making it the largest regulated hub for virtual assets in the MENA region.
Bitcoin Suisse aims to leverage its decade-long experience in crypto finance and robust operational standards to bring a secure, transparent, and compliant platform to the region. This move represents Bitcoin Suisse’s first expansion outside the European Union and comes amid a growing trend of crypto firms eyeing the Middle East as a global crypto hub given its business-friendly regulatory environment.
The company currently manages over USD 6 billion in digital assets under custody and USD 2.6 billion in institutional staking services globally. With this recent development, Bitcoin Suisse plans to continue enhancing its product suite and operational capabilities to serve its international client base effectively.