According to Deep Tide TechFlow, on May 22, Swiss crypto financial services provider Bitcoin Suisse announced that its subsidiary BTCS (Middle East) Ltd. received in-principle approval from the Abu Dhabi Global Market Financial Services Regulatory Authority.
This approval allows Bitcoin Suisse to provide regulated crypto financial services in the Middle East, including virtual asset trading, crypto securities and derivatives trading, as well as 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 largest digital asset service providers in the world.
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 region. The head of global expansion at Bitcoin Suisse described this approval as an important milestone in their global expansion strategy.
