In a significant development for the Middle East’s crypto landscape, M2 has launched a trading and custodial platform in Abu Dhabi’s financial free zone. Regulated by the Financial Services Regulatory Authority (FSRA) as a Multilateral Trading Facility (MTF) and Custodian, M2’s platform is poised to provide retail and institutional clients in the UAE with the ability to trade and custody virtual assets. The platform has partnered with Abu Dhabi Commercial Bank (ADCB) to facilitate a direct fiat on/off ramp in AED.
M2, co-founded by Bijan Alizadeh Fard of Phoenix Group and led by CEO Stefan Kimmel, offers an Earn product with yields of up to 10.5% on Bitcoin and Ethereum. The platform prioritizes regulatory compliance, aiming to foster trust, security, and integrity in the emerging virtual asset class. ADCB’s collaboration adds a layer of reputation and credibility to the platform.
UAE clients can register with M2, gaining access to full onboarding services, including virtual asset custody and trading. The platform’s emphasis on regulatory compliance aligns with Abu Dhabi Global Market’s (ADGM) regulations, ensuring support for M2’s vision within the virtual asset trading ecosystem.
M2’s launch places it among entities like Binance, Rain, BitOasis, and Securrency that have gained FSRA licenses in the region. The UAE government’s active engagement in shaping the future of blockchain and virtual assets reflects its ambition to attract global attention and investments. M2 is also eyeing operating licenses globally, including in the EU and UK, establishing MENA as a strategic base for international expansion.
This information is not legal advice. Do your own research before making any decisions. Only invest what you can afford to lose and seek independent financial advice if needed. Understand the risks involved before purchasing any cryptoassets.