Securrency Capital Gains Regulatory License in Abu Dhabi

Abu Dhabi-based broker-dealer, Securrency Capital has secured a Financial Services Permission (FSP) from Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA), the company announced on Tuesday.

The broker-dealer has now gained the status of a Category 3A brokerage under the Abu Dhabi regulator.

The new approval will allow the company to deal in investments as a matched principal and provide custodian services. In addition, it can offer digital asset trading services to retail customers.

“With this license, we will be able to leverage Securrency's unparalleled proprietary asset tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term technology, which automates multi-jurisdictional compliance and financial services and enables the movement of regulated value at the speed of tomorrow,” said Amir Tabch, Securrency Capital’s Chairman and CEO.

Securrency Capital is a subsidiary of US-based Securrency, Inc. that provides financial markets infrastructure technology. It has developed a proprietary digital asset technology to support insurance, issuance, governance and life cycle management of regulatory-compliant tokens.

With its FSP-regulated platform, the company is planning to offer digital asset trading services to global investors. It is now seeking additional approval from the FSRA before launching its services.

“We intend to use [the ADGM's regulatory approval] as a foundation to further our commitment to achieving compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with our regulatory requirements and playing our part in maintaining the integrity of the financial services ecosystem for our clients and the community,” Praveer Pinto, Securrency Capital’s Compliance Director, said.

Middle East: the New Digital Asset Hub

Meanwhile, crypto companies are flocking to the Middle East for obtaining regulatory licenses. Binance recently received in-principal approval from the ADGM’s regulator to operate as a digital asset broker in the region. It, along with rival Bybit and FTX, also received regulatory approval in Dubai.

“Securrency Capital will be at the center of the dynamic and rapidly-growing digital assets marketplace in ADGM for which retail and institutional clients have been waiting,” said John Hensel, the COO at Securrency, Inc.