According to TechFlow, on May 22, Swiss crypto financial services provider Bitcoin Suisse announced that its subsidiary BTCS (Middle East) Co., Ltd. has obtained the principle approval of the Financial Services Regulatory Authority of the Abu Dhabi Global Market.
The approval allows Bitcoin Suisse to provide regulated crypto financial services in the Middle East, including virtual asset trading, crypto securities and derivatives trading and local custody services.
Bitcoin Suisse manages over $6 billion in digital asset custody services and over $2.6 billion in institutional staking services, making it one of the world's largest digital asset service providers.
ADGM is one of the most well-regulated jurisdictions in the world and the largest regulated virtual asset hub in the Middle East and North Africa. Bitcoin Suisse’s head of global expansion called this approval an important milestone in its global expansion strategy.
