As a researcher with a background in fintech and digital assets, I am thrilled to see QCP Capital’s initial approval to operate in Abu Dhabi. The Middle East is emerging as a significant player in the digital asset industry, and ADGM’s progressive regulatory framework is a major draw for companies like QCP.
QCP Capital, a crypto options trading platform, has been given preliminary approval to commence operations in Abu Dhabi.
Based on a Bloomberg article, QCP Capital has received preliminary authorization from the ADGM’s Financial Services Authority for operating a regulated digital asset business.
In the rapidly changing world of digital assets in the Middle East, we expect more businesses similar to QCP to realize the forward-thinking and all-encompassing character of ADGM’s regulatory structures. This recognition is likely to boost their confidence in establishing their regional operations in Abu Dhabi.
Arvind Ramamurthy, Chief of Market Development at ADGM
As a crypto investor, I’m thrilled to announce that our preferred trading platform has been granted preliminary approval as the first market maker and cryptocurrency broker in the financial hub of Abu Dhabi, United Arab Emirates. This milestone positions us at the forefront of the region’s burgeoning digital asset industry.
“The Middle East serves as an excellent meeting point for financial inflows from Europe and Asia towards this region.”
Melvin Deng, QCP Capital CEO
By the end of 2023, QCP, a major player in the cryptocurrency derivatives trading market, had amassed a staggering $60 billion in trading volume. The company, which employs approximately 70 people, is planning to move some of its staff to Abu Dhabi upon receiving final regulatory approval.
Abu Dhabi emerges as a preferred location for cryptocurrency businesses, contrasting with the United States that seems less appealing for the international growth of crypto industry players.
As a crypto investor, I’m excited about the recent partnership between QCP Capital and Further Ventures. Last month, we joined forces to strengthen our presence in the Middle Eastern markets. Together, we plan to innovate and develop new financial instruments for securely trading and safeguarding cryptocurrencies.
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2024-05-07 20:01