M2 has been granted an official Financial Services Permission (FSP) license by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
This license positions M2 as a pioneer in the emerging virtual asset sector, allowing it to operate a multilateral trading facility and offer custody services exclusively to UAE residents.
The M2 platform is now poised to offer both institutional and retail clients in the UAE a unique opportunity to engage with virtual assets.
By facilitating the buying, selling, and custody of these assets, M2 aims to establish the highest standards of trust, security, and integrity within this rapidly evolving market.
ADGM license marks milestone for M2
“The M2 team is delighted to have received confirmation of the ADGM FSRA license as it represents the approval of one of the most sophisticated and respected regulators in the world. The process of obtaining the license is the first step on our journey, and we will remain in close dialogue with ADGM to ensure transparency around the custody of client assets,” Stefan Kimmel, the CEO of M2 said.
Kimmel added: “Over the past five years, the ADGM regulatory framework has established clear rules for those operating in the virtual assets sector and M2 will uphold the highest standards to reflect their vision as the UAE continues to affirm its reputation as a global leader in this space.”
Echoing the same sentiment Salem Al Darei, Chief Executive Officer of ADGM Authority, said, “We are delighted to welcome M2 to ADGM’s international virtual asset community, further solidifying ADGM’s position as a leading International Financial Centre and a catalyst for business expansion. At ADGM, our mission has always been centered around unlocking new growth opportunities and fostering investments in the virtual assets sector.”
“By integrating companies like M2 into our ecosystem, we remain committed to enhancing Abu Dhabi’s digital asset landscape and actively supporting the diversification of our thriving economy”, he explained.
The executive leadership team steering M2 comprises seasoned professionals from various financial sectors, including Fintech, cryptocurrency, and traditional finance giants like Goldman Sachs, JP Morgan, Deutsche Bank, PWC, IBM, and Kraken.
The M2 platform is set to reflect the rigorous standards upheld by the financial services industry while embracing the cryptocurrency and blockchain sectors.
Subject to regulatory approval, the anticipated launch of the M2 platform later this year will herald a new era for UAE virtual asset investors.
Market-leading virtual assets such as BTC and ETH will be available for purchase, accompanied by institutional-grade trading features and a secure on and off-ramp for fiat payments.
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