Bitcoin Suisse Expands Its Operations to the United Arab Emirates

Bitcoin Suisse, a leading Swiss crypto financial service company, has recently made a notable move toward expanding its operations in the United Arab Emirates.

Crypto financial service company Bitcoin Suisse has recently made progress in expanding its operations in the United Arab Emirates. On May 21, the company’s Middle East affiliate, BTCS (Middle East) Ltd., received an in-principle approval from the Financial Services Regulatory Authority (FSRA), a regulatory unit of the Abu Dhabi Global Market (ADGM).

This stage in the approval process is important as it marks the beginning of Bitcoin Suisse’s effort to be regulated outside of Europe.

Announcing the news on Monday, May 22, the crypto firm stated that the approval from the FSRA places it closer to securing a full Financial Services Permission (FSP).

Even if this is not the last approval needed, it illustrates that Bitcoin Suisse is on track to fulfilling the rules of ADGM. The firm is likely to launch regulated crypto financial services in Abu Dhabi in the near future. These include trading virtual assets, crypto securities, and derivatives and keeping digital assets secure in your local account.

Since the ADGM has a solid and regulated framework for virtual assets, it has drawn many crypto companies to the Middle East North Africa region. Considering this, it seems that Bitcoin Suisse views the ADGM as an attractive place due to its supportive regulations and the chance to grow in digital finance.

Ceyda Majcen, Head of Global Expansion at Bitcoin Suisse, commented on the significance of this milestone.

“We are delighted to have achieved this key stage in our global expansion plans with the receipt of in-principle approval from the FSRA for a full financial services permission. This is a testament to the company’s commitment to transparency, compliance, and fulfilling the highest regulatory standards.”

“As we continue to navigate the complexities of global financial markets, we are grateful for the support and guidance provided by the FSRA throughout this process. Their dedication to fostering a conducive ecosystem for financial institutions is highly valued.”

Highlighting the rapid development of Abu Dhabi as a financial hub, Majcen noted that it presents "a wealth of opportunities" for Bitcoin Suisse to contribute its expertise in crypto finance to the emerging digital asset market in the region.

“We look forward to completing the final stages of the licensing process and launching our services in the coming months.”

Mr. Ramamurthy, Head of Market Development at the Abu Dhabi Global Market (ADGM, welcomed Bitcoin Suisse’s arrival.

He expressed his pride in the company for reaching this first stage in its journey to join the vibrant financial services ecosystem at the ADGM.

“This milestone marks a significant step forward in expanding the diverse offerings at the ADGM. We are optimistic that Bitcoin Suisse will soon secure its Financial Services Permission (FSP) and ultimately contribute to shaping the future of the financial sector in the UAE.”

Bitcoin Suisse is a leading crypto financial service company in Switzerland. Managed by Coinspect, the company’s crypto assets under management are valued at approximately 45 billion. It is also a major player in the institutional staking market, with an amount greater than USD $2.6 billion being staked for its clients. For this reason, Bitcoin Suisse can be considered among the top tier companies in crypto custody and staking.

Bitcoin Suisse is expanding its services in response to the supportive regulatory climate provided by the ADGM. Its aim is to provide its clients with a reliable and highly regulated platform for crypto services.

The IPA is a testament to Bitcoin Suisse’s diligent work in keeping the risks low while meeting the legal requirements. After it obtains its full license, the company plans to upgrade its products and services for its expanding international clientele.