Bitcoin Suisse Secures Abu Dhabi Approval for Crypto Services

Bitcoin Suisse, a prominent Swiss crypto financial services provider, has announced that its subsidiary, BTCS (Middle East) Ltd., has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This approval, granted on May 20, 2025, allows Bitcoin Suisse to pursue full licensing within ADGM, a leading international financial center known for its rigorous and globally respected virtual asset regulatory framework.

Once fully licensed, Bitcoin Suisse will be authorized to offer a range of regulated digital asset services in Abu Dhabi. These services include trading in cryptocurrencies, crypto securities, derivatives, and secure local custody solutions. This move marks the first major Swiss crypto custodian entering the Gulf under ADGM’s framework, signaling a deeper fusion of European crypto expertise with the Middle East’s rapidly maturing digital asset infrastructure.

Ceyda Majcen, Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East) Ltd, emphasized the firm’s commitment to maintaining the highest standards of transparency, security, and regulatory compliance. She noted that Abu Dhabi, one of the Middle East’s fastest-growing financial centers, presents a compelling opportunity for growth. Majcen expressed enthusiasm about working closely with the FSRA to obtain the full license and bring a decade of experience in crypto finance to the region’s rapidly evolving digital asset ecosystem.

Established in 2013, Bitcoin Suisse has been a foundational player in Switzerland’s Crypto Valley and has become a trusted name in secure, compliant crypto asset solutions for private and institutional clients. The company currently holds over $6 billion in digital assets under custody and manages over $2.6 billion in institutional staking services, ranking it among the world’s largest providers of digital asset custody and staking solutions.

The Middle East, particularly the United Arab Emirates, is rapidly positioning itself as a cryptocurrency and blockchain innovation ecosystem. The region’s progressive regulatory frameworks and business-friendly environments are attracting major crypto firms seeking to expand their operations. The UAE has emerged as a central hub for blockchain and digital asset activity, offering a robust, multilayered regulatory environment. The FSRA governs ADGM in Abu Dhabi, while the Virtual Assets Regulatory Authority (VARA) regulates Dubai’s digital asset sector. The Securities and Commodities Authority (SCA) oversees broader crypto activities at the national level.

The UAE’s ambition to become a leading global crypto hub is reflected in its dedicated free zones, such as the Dubai Multi Commodities Centre (DMCC) and Ras Al Khaimah Digital Assets Oasis, which offer regulatory autonomy and business incubation for digital asset firms. This structured approach has turned the UAE into a magnet for international crypto firms. In the past year alone, the region has experienced record growth in digital asset engagement.

Major financial institutions and global crypto firms are deepening their presence in the Gulf. Sovereign funds like Mubadala are making direct investments in crypto, such as the $2 billion stake in Binance by Abu Dhabi’s MGX in March 2025. Ripple Labs, Chainalysis, and Crypto.com have all secured regulatory approvals or established regional hubs, further cementing the Middle East’s status as a magnet for institutional capital and innovation.