QCP expands to UAE with crypto trading license

QCP Group (QCP), a crypto trading entity has received a Financial Services Permission (FSP) license from the Abu Dhabi’s International Financial Centre (ADGM). The company already holds a payment license in ￰0￱ Sit, Founder of QCP noted that the new license strengthens their ability to bridge operations between Asia and the Middle ￰1￱ stated, “Our commitment is to bring institutional clients security, transparency, and a seamless 24/7 platform.” With the UAE license QCP will be able to offer crypto spot and derivatives trading, market making, and structure solutions for institutional and professional ￰2￱ Ramamurthy, Chief Market Development Officer at ADGM noted, “QCP’s focus on regulatory compliance and innovative digital asset solutions aligns seamlessly with ADGM’s vision of fostering a trusted and dynamic financial ecosystem.” QCP will be competing with others in the space that include M2 exchange which has now geared its crypto offering to institutional ￰3￱ announcement also comes after news showed that the UAE through a sovereign wealth fund owns $700 million worth of Bitcoin .

Additionally, sovereign wealth funds, including the UAE’s Mubadala and Norway’s sovereign fund, have exposure to Bitcoin through exchange-traded funds (ETFs) and other investment ￰4￱ UAE currently has 36 licensed VASP entities under VARA in Dubai as ￰5￱ crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites