Bitcoin Suisse Secures Abu Dhabi Approval for Crypto Expansion

Bitcoin Suisse, a prominent crypto financial service provider based in Switzerland, has announced that its subsidiary, BTCS (Middle East) Ltd., has received an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This development is a significant milestone for Bitcoin Suisse as it aligns with the company's strategic expansion plans and underscores its dedication to regulatory compliance, financial innovation, and global growth.

Bitcoin Suisse is renowned for its secure and compliant crypto asset solutions, catering to both private individuals and institutional clients. The IPA from ADGM's FSRA will enable Bitcoin Suisse to leverage the region's progressive regulatory framework, offering clients a robust, transparent, and fully regulated platform for its crypto financial services. This integration is expected to enhance Bitcoin Suisse's reputation as a trusted provider in the crypto finance sector.

The IPA facilitates Bitcoin Suisse's expansion into the Middle East, introducing a refined and client-centric approach to crypto finance. This move is also a step towards securing full licensing, which will allow the platform to provide regulated crypto financial services. These services include the trading of virtual assets, crypto securities and derivatives, and local custody within ADGM's dynamic international financial center.

ADGM is recognized as one of the most advanced and well-regulated jurisdictions globally, with a virtual asset framework that is acknowledged for its comprehensive regulations. This makes ADGM the largest regulated hub for virtual assets in the Middle East and North Africa (MENA) region. The IPA reflects Bitcoin Suisse's commitment to maintaining the highest standards of transparency, security, and regulatory compliance.

Ceyda Majcen, the Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East) Ltd., highlighted the significance of this milestone. "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 compliance. 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 to bring our decade of experience in crypto finance to the region’s rapidly evolving digital asset ecosystem," Majcen stated.

Arvind Ramamurthy, the Chief of Market Development Officer at ADGM, also expressed enthusiasm about this achievement. "ADGM congratulates Bitcoin Suisse on receiving its IPA from the FSRA of ADGM. Their expansion plans for the region to provide regulated crypto financial services within the international financial centre are a testament to the immense opportunities available within Abu Dhabi. We look forward to Bitcoin Suisse receiving its Financial Services Permission (FSP) and its contribution to ADGM’s dynamic ecosystem," Ramamurthy said.