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Announcement
M2 secures ADGM Licence and plans rollout of fully regulated crypto services to UAE residents and Institutions
ADGM FSRA 28/11/2023M2, licensed by the FSRA and ADGM has been recognized as a fully regulated Multilateral Trading Facility (MTF) and Custodian and is now able to on-board UAE residents and institutional clients to the M2 platform.
Under the full license M2 will be able to offer best-in-class trading products targeted at both retail and institutional investors in the UAE. The services coming soon will include:
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Virtual Asset Custody: Investors will be able to manage their Virtual Assets in M2’s custodial wallets and offline storage facility, conveniently and securely with the easy-to-ease on ramp and off ramp mechanism.
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Trade AED to BTC & ETH: M2 will shortly be able to offer institutions and retail clients the ability to trade AED with leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
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AED Fiat On/Off-Ramp: M2 will shortly be able to offer institutions and retail clients the ability to trade AED with leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
Designed with regulatory process and customers in mind, M2 adheres to strict regulatory requirements set by ADGM in relation to consumer protection, technology governance, custody and all its trade activities such as market surveillance, transparency, settlement, and transaction recording.
ADGM’s virtual assets framework has been globally recognized as being one of the largest regulated jurisdictions of virtual assets in the MENA region.
Stefan Kimmel, M2, CEO, comments: “We take pride in being a UAE-based platform, licensed by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This recognition underscores our commitment to our customers and to the FSRA’s notably high and sophisticated regulatory standards. We look forward to offering crypto investors in the UAE the opportunity to utlize our platform, including the ability to trade on/off-ramp AED and to trade for market leading cryptocurrencies such as BTC and ETH by the end of the year.”
He added: “As positive sentiment returns to the crypto market, we want to offer crypto investors a trusted place to buy, sell and custodize. Regulation is our routine, and we will continue to demonstrate our commitment to compliance and regulatory excellence.”
Providing a secure destination for investors, M2 Limited and M2 Custody Limited are the registered companies that have been approved by ADGM to hold the Mutlilateral Trading Facility and Custodian licence.
Arvind Ramamurthy, Chief of Market Development at ADGM said: “We are delighted to welcome M2 to ADGM. We are confident that ADGM’s dynamic ecosystem and progressive regulations will enable M2's vision, ADGM is the largest regulated jurisdiction of virtual assets in the MENA region and M2’s innovative solutions will add to our vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers."
The team behind M2 is made up of an experienced board of directors, steered by the esteemed leadership of His Excellency Hisham Khalid Malak. With a strong commitment to regulatory compliance and innovative product offerings, M2 is taking steps to establish itself as a national leader in the digital asset sector, contributing to Abu Dhabi's emergence as a global crypto innovation hub.