Digital asset options trading platform QCP Capital has received preliminary approval to operate in Abu Dhabi, becoming the latest cryptocurrency firm to expand in the Middle East. The seven-year-old firm has received approval in principle from the Abu Dhabi Global Market Financial Services Regulatory Authority to carry out regulated activities, according to a statement on Tuesday. The ADGM spokesperson said the firm is the first Singaporean digital asset market maker and broker-dealer to receive preliminary approval.
In addition, QCP recently announced a partnership with Abu Dhabi-based Further Ventures, and the two companies plan to develop new products for digital assets. Once QCP receives a full license, the company will initially focus on core businesses such as trading and market making in the region.
It is reported that QCP Capital's cryptocurrency derivatives trading volume reached $60 billion last year.
Crypto broker-dealer QCP Capital receives approval in principle from Abu Dhabi regulators
2024-05-07 10:46:36
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