The recently established Abu Dhabi Global Market (ADGM) is set to allow a US- Based Crypto Asset business to operate under its regulatory framework. The firm will be located in the Capital of the Country, Abu Dhabi. Seccurency, provides one of the most cutting-edge financial technology services for the trading and tokenized issuance of securities.
The United Arab Emirates Regulates Crypto Trading
The Abu Dhabi government controls Cryptocurrencies and the adoption of the blockchain technology to not only protect investors from scams but to ensure that the local environment is attractive to leading Crypto Multinationals that can contribute immensely to the region’s economic development. In this way, the Financial Services Regulatory Authorities (FSRA) under the umbrella Crypto-special-zoning body ADGM will process the application from Seccurency and most probably issue a license. This will allow the venture to partner with relevant Blockchain companies for joint projects’ implementation.
Seccurency will then be able to offer both local and international clients with an exchange platform for expanded global token liquidity and Crypto custodial services.
There is a lot of positivity on the news as Seccurency has already been certified to transact business in the Middle East and North Africa (MENA) Region. This is partly because of the ADGM RegLab sandbox crypto pilot environment where the firm is supposed to demonstrate its ability to create compliant tokenized securities and a secure network on the innovative RegTex technology.
According to the Seccurency CEO-John Hansel and other managers of the firm’s operation in the MENA region, the company “enforces compliance” in the issuance, enrolment, subscription and onboarding processes. All this is achieved through the TokenTM technology that tests the compliance indices to accredit tokenized securities as market compliant. The standards are set by the Crypto market.
Reports further reveal that Seccurency intends to adhere to the ADGM regulatory frameworks to roll out a fully regulated exchange that will service token holders on the securities markets. The Seccurency mission is to facilitate economic development via securities services, to provide stability in the tokenized securities markets, and to help investors overcome challenges that they may face. The company is also willing to help the UAE modernize its financial markets in a bid to provide stability when the huge petroleum resources get exhausted.
The Abu Dhabi Regulatory Environment
The Financial Regulatory Authority’s executive director-Wai Lum Kwok has encouraged Seccurency to establish their business in Abu Dhabi. He adds that the government and the Capital Markets are keen to welcome Crypto Investors, Innovators, Financial Firms and Businesses who will make use of the enabling environment powered by appropriate regulatory policies that have been certified by Crypto-Financial experts.
Wai Lum Kwok added that Seccurency operation application is a good gesture that Abu Dhabi is becoming the Silicon Valley of Crypto investments and could soon be a model for other cities to emulate. He finished by expressing gratitude for the management’s decision to strategically partner with other Blockchain firms to offer clients state of the art crypto services.