sygnumreceived approval in principle from Abu Dhabi Global Market (ADGM) to launch service for cryptocurrencies.
Digital asset trading platform animalas well as crypto exchanges Kraken Licensed to set up headquarters at ADGM to several large companies dealing with cryptocurrencies, including Abu Dhabi, which wants to become a base, has now reached an agreement in principle with Sygnum.
Crypto Bank Sygnum Gets In-Principle Approval From Abu Dhabi
Abu Dhabi Global MarketThe Financial Services Regulatory Authority (FSRA) has approved in principle the Swiss-based digital asset bank Sygnum to expand its operations in the UAE capital and meet the growing demand for cryptocurrencies in the region.
In the statement made today; sygnum It is stated that the new Middle East center of ‘s will offer services regulated by Switzerland’s financial market supervisory authority (Finma). These services include a crypto-specific suite of digital asset banking, asset management, tokenization, and B2B banking services.
The company’s target ranges from blockchain firms relocating to the UAE, to existing local cryptocurrency foundations and projects, to traditional institutional investors and wealthy individual investors.
