Abu Dhabi's ADGM set to double number of cryptocurrency exchanges
Abu Dhabi Global Market has three operational virtual assets, or what are commonly called cryptocurrency exchanges, and three more are at various stages of preparation for a soft launch as it looks to expand online asset trading options for investors, the financial hub's Financial Services Regulatory Authority chief executive said.
The soft launch phase refers to a stage where a company signs up clients and accepts their digital assets and fiat funds before commencing trading operations.
The regulator expects the “next few launches” to take place in the first half of next year, subject to final approvals, its chief executive Emmanuel Givanakis told The National in an interview.
Another six entities, including trading platforms and companies that offer custody services to investors, are looking at establishing operations.
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