UAE a source of significant amount of crypto trading for Brevan Howard

UAE a source of significant amount of crypto trading for Brevan Howard

 During the AIM Conference in Dubai, Brevan Howard a global hedge fund management fund which recently opened its offices in Abu Dhabi UAE noted that it does a significant amount of its crypto trading from the United Arab Emirates. Ryan Taylor, Group head of compliance at Brevan Howard stated that this was because of the country’s sensible regulations.

Taylor stated, “The regulators in the UAE are hard, but they want the industry to fly and so they write sensible regulations and they are prepared to talk to the industry in order to evolve those regulations.”

Taylor said that Brevan Howard’s crypto trading operations represented about $2 billion of the firm’s total strategies which he said were over $30 billion. Brevan Howard has become the first global hedge fund to have 100 employees in the United Arab Emirates.

The statements come soon after Brevan Howard became the first client for Standard Chartered regulated crypto custody service out of DIFC.

In May 2024, Standard Chartered announced that it had signed a memorandum of understanding (MoU) with Dubai International Financial Centre (DIFC) to collaborate on digital assets, including digital asset custody through its Zodia Custody entity. The now licensed service will allow clients to safekeep their Ethereum and Bitcoin cryptocurrencies as a start.

Brevan Howard Digital, the dedicated crypto and digital asset division of Brevan Howard, is confirmed as the inaugural client for the product.

During the announcement, Gautam Sharma, Chief Executive Officer of Brevan Howard Digital commented, “This is a significant win for the UAE and the wider digital asset industry. Standard Chartered’s global reputation and demonstrated commitment to this space adds a layer of credibility that is meaningful for institutional adoption. The development of the institutional infrastructure within the asset class and region supports our established business within the ADGM in its continued expansion and our ongoing efforts toward improving and reinforcing standards in the digital asset ecosystem.” 

Brevan Howard, which manages $35bn in assets, opened its Abu Dhabi office in February 2023.

Abu Dhabi Global Market (ADGM) is one of the world’s leading international financial centers, located in the capital city of the United Arab Emirates (UAE). ADGM is an ideal center for asset management due to its exceptional infrastructure, robust regulatory frameworks, supportive local government, sound regulation and use of English law. It is already a dynamically growing location for the industry.

Brevan Howard has more than 750 employees across 12 offices in eight countries, representing more than 40 nationalities. The firm manages over $30bn on behalf of institutional clients globally.

CyBirb Blockchain Security company launches in Abu Dhabi’s ADGM

CyBirb Blockchain Security company launches in Abu Dhabi’s ADGM

CyBirb, aWeb3 security company, has launched its operations in Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital after receiving its license.

As per the press release, the move aims to strengthen capabilities in blockchain cybersecurity and compliance across the region. CyBirb’s expansion marks a significant milestone in enhancing blockchain security and fostering innovation in the UAE and beyond. The decision to launch operations within ADGM was driven by the financial centre’s reputation for innovation and robust regulatory standards. CyBirb is set to offer a suite of advanced security solutions, including Smart contract audits, Decentralized application (DApp) security, Wallet screening and transaction monitoring and AI-powered real-time threat detection.

Manan Shah, Founder and Chief Executive Officer of CyBirb, stated: “Our establishment in ADGM is a game-changer for blockchain security in the region. We’re bringing world-class cybersecurity solutions to a hub of innovation and regulatory excellence. We are confident that our presence in ADGM’s ecosystem will enable us to set new global benchmarks in Web3 security and compliance.”

The company plans to collaborate with key stakeholders in ADGM, including financial institutions, technology firms, and academic institutions, to continuously enhance its services and contribute to strengthening the overall blockchain ecosystem. Commenting on these collaborations Manan Shah added, “These partnerships are integral to our mission of creating a secure and thriving blockchain ecosystem. By collaborating with leaders across various sectors, we’re not just offering security solutions – we’re building a foundation for the future of Web3 in the MENA region.”

UAE ADGM and Fintech Tuesdays to enhance Fintech with research on Blockchain, AI, and Regtech

UAE ADGM and Fintech Tuesdays to enhance Fintech with research on Blockchain, AI, and Regtech

The ADGM Academy’s Research Centre and Fintech Tuesdays have signed a Memorandum of Understanding (MOU), to enhance collaboration on knowledge sharing, research, training and events for Fintech including emerging trends such as AI ( Artificial Intelligence), blockchain, and Regtech ( Regulatory Technology).

In line with the MOU, ADGM Academy and Fintech Tuesdays will collaborate on a series of initiatives such as joint research projects, fintech-focused workshops, and thought leadership events. These will provide a platform for industry experts to share insights on emerging trends such as artificial intelligence, blockchain, and regulatory technology (RegTech). Training programs will result in curated content to support the fintech and digital community in driving upskilling and re-skilling to ensure the development of the local talent base.

“This partnership is a testament to our commitment to building a strong, innovation-driven fintech ecosystem in the UAE,” said Jassim Al Marzooqi, Senior Director, ADGM Academy. “Through this collaboration with Fintech Tuesdays, we aim to provide unparalleled opportunities for knowledge sharing, training, research and development, which will pave the way for the next generation of fintech solutions.”

Arjun Vir Singh, Advisory Council Member at Fintech Tuesdays, said, “We are excited to be part of this strategic alliance with ADGM Academy. Together, we will drive forward fintech innovation in the region by creating meaningful opportunities for startups, investors, and policymakers to collaborate and thrive.”


ADGM Academy and Fintech Tuesdays will collaborate on future annual editions of the UAE Fintech Jobs Report, which will bring together the expertise of an academic research team and the fintech community.

This partnership aims to provide in-depth insights into the evolving fintech job market, exploring trends in talent acquisition, skill demands, and employment growth across the sector. By combining rigorous academic research with real-world industry perspectives, the report will serve as a vital resource for businesses, policymakers, and professionals, helping to shape the future of fintech employment in the UAE and ensuring that the sector continues to thrive as a driver for global innovation.

Soter a digital asset insurer, a portfolio company of UAE Further Ventures receives initial regulatory approval from BMA

Soter a digital asset insurer, a portfolio company of UAE Further Ventures receives initial regulatory approval from BMA

A portfolio company of Abu Dhabi based Further Ventures, Soter Insure, a provider of insurance products tailored to the digital asset economy, whose CEO was the former CEO of VARA Dubai ( Virtual Asset Regulatory Authority), has received initial approval from the Bermuda Monetary Authority (BMA), to offer a range of insurance solutions designed specifically for institutions operating in the blockchain and cryptocurrency space.

As per the press release, the approval marks a significant milestone for Soter, enabling the company to address the evolving risk management needs of the digital asset sector.‍

“This regulatory approval is a testament to the vision we share with our partners and the growing need for tailored risk management solutions in the digital asset space,” said Henson Orser, CEO of Soter Insure. “With the rise of institutional adoption of blockchain technology, our products provide a critical layer of security for asset managers, funds, and validators. We are proud to offer coverage that aligns with the assets themselves—whether it’s Bitcoin, Ethereum, or other native currencies—allowing policyholders to be indemnified in the very currency they are seeking to protect.”

Further Ventures noted on LinkedIN, “Our portfolio company Soter Insure has just announced receiving the initial approval from the Bermuda Monetary Authority. Great start for the project as we plan to share more updates and valuable content soon!”

Further Ventures is a venture builder and investment firm based in Abu Dhabi. It supports innovative startups such as fintech, VASPs which include virtual asset payments products, blockchain based asset custody and security solutions, and others. ‍

Soter has offices in Abu Dhabi Global Market Square, Abu Dhabi, United Arab Emirates

Previously UAE headquartered Fuze, a digital assets infrastructure provider, raised a seed round of $14mn, the largest Seed investment in a digital assets startup in the history of the Middle East and North Africa region (MENA) led by Abu Dhabi-based Further Ventures, along with participation by US-based Liberty City Ventures.

Soter’s product suite includes Directors & Officers (D&O) coverage, Asset Loss policies, and a unique Slashing insurance product that protects validators in Proof of Stake networks. Notably, all policies are denominated in the native digital currency being insured. For instance, Ethereum Validator Slashing losses are paid out in Ether, while Bitcoin asset loss policies are settled in Bitcoin—a groundbreaking approach that ensures alignment between the asset at risk and the insurance coverage.

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Finstreet launches Blockchain enabled digital venue for trading financial assets in ADGM

Finstreet launches Blockchain enabled digital venue for trading financial assets in ADGM

Finstreet, a subsidiary of Rorix Holding, announced on LinkedIn, that it would be the first to launch a Blockchain enabled regulated digital venue for trading financial assets both global private and public securities from Abu Dhabi ADGM ( Abu Dhabi Global Market).

As per the post, “ Finstreet will be using a blend of traditional and blockchain technology, Finstreet enables investors and issuers worldwide to access greater liquidity, global connectivity, and comprehensive 360-degree trading — all from one centralized global infrastructure.”

They add, “This is just the beginning of what we believe will reshape the future of securities and commodities markets.”

This category defining financial market infrastructure and its combination of activities makes it the first of its kind to operate across the global markets from Abu Dhabi’s ADGM. Following direct application of English common law under the regulation and supervision of the FSRA, Finstreet provides a platform for transitioning towards the future of capital markets as they respond to the opportunities presented by new technologies.

Finstreet’s three subsidiaries will be the first regulated, global market infrastructure to offer an end-to-end hybrid traditional and blockchain-powered ecosystem to investors and issuers, covering the full lifecycle of financial assets, including origination, issuance, trading, settlement and custody.

Dr. Thani bin Ahmed Al Zeyoudi, the Executive Chairman of Rorix Holdings, stated, “Today’s launch of Finstreet and the granting of its FSP licence by ADGM’s Financial Services Regulatory Authority is a testament to the UAE’s commitment to embracing technological advancement and enabling inclusive global trade. I am certain that Finstreet’s digitised trade exchange platform will provide markets with a holistic approach towards international trade and bring a new standard to capital markets on a global scale.”

Ahmed Jasim Al Zaabi, the Chairman of Abu Dhabi Global Market (ADGM), said, “Finstreet’s pioneering initiative embodies ADGM’s unwavering commitment to driving innovation and redefining the future of global finance. By establishing the first regulated digital market for the trading of both public and private securities within our jurisdiction, we are further solidifying Abu Dhabi’s status as a premier global financial hub. This launch not only reinforces our strategic vision of positioning Abu Dhabi at the heart of global finance but also propels economic growth and enhances connectivity across the global marketplace.”

Ajay Hans Raj Bhatia, the Chief Executive Officer of Sirius International Holding and Managing Director of Finstreet, commented, “With this initiative, we further our mission to diversify UAE’s economic growth agenda. Finstreet provides a foundation for a new, innovative infrastructure to allow global financial market participants to both realise their own capital raising ambitions and participate in the substantial growth story of UAE-based firms.”

Sunidhi Pasan, the Chief Executive Officer of Finstreet Limited, added, “By harnessing Finstreet’s innovative infrastructure and deep market knowledge, we are opening up new avenues for investment and trading for issuers and investors both in the region and abroad.”

UAE M2 now offers seamless AED to BTC and ETH conversions

UAE M2 now offers seamless AED to BTC and ETH conversions

M2 registered in ADGM, a virtual asset custodian and a Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) ADGM, has launched what it calls a simplified pathway for UAE residents to buy and sell Bitcoin (BTC) and Ethereum (ETH) through a direct integration with their bank account.

As per the press release, the integration serves as a significant milestone both for the wider accessibility of virtual assets in the region, as well as M2 working to offer a best-in-class product offering within a rapidly evolving landscape.

The new solution will allow UAE residents with banking services to seamlessly convert United Arab Emirates’ Dirhams (AED) into BTC and ETH – and vice versa – via trading pairs listed on M2’s spot market.

The press release adds, that this new pathway, which leverages the strength and security of robust banking infrastructure, is the most recent milestone in M2’s continued work to build trust and industry leading compliance in providing both the safe custody of virtual assets, and the ability to trade Bitcoin (BTC) and Ethereum (ETH) with UAE Dirham (AED).


CEO of M2 Stefan Kimmel said, “Through this compliant integration, UAE residents can enjoy the familiarity of their existing and trusted banking services, coupled with the cutting-edge security and functionality of our platform. This is all executed within one of the world’s strictest regulatory frameworks where consumer protection, technology, governance and custody are paramount. It is a significant step for M2 in ADGM as we work to expand our offering for the MENA region and reduce the friction in how clients can navigate between traditional finance and virtual assets.”

Sources close to the matter explained to Lara on the Block, that currently M2 is working with one major bank ( which prefers not to be named) and will expand this to other banks in the UAE in the future.

M2 registered in ADGM, which launched back in November 2023, announced that it was able to onboard retail and institutional clients and would be offering AED Fiat on and off ramp through its participation with a local bank. Eight months later, M2 is finally able to do this.

In a previous interview with Stefan Kimmel with Lara on the Block, Kimmel noted, that launching a fully regulated, transparent clean startup from Abu Dhabi ADGM ( Abu Dhabi Global Market) was because the FSRA ( Financial Services and Regulatory Authority) in ADGM is one of the oldest most respected and esteemed regulatory authorities when it comes to virtual assets and crypto. FSRA as Kimmel explained has been around for five years and has a comprehensive solid framework. He stated, “ After all that has happened in crypto over the past few years, everyone is looking for a safe protected transparent exchange, and this is what we are offering from ADGM.”

He also noted, M2 has is its strong liquidity which is essential for the success of any crypto exchange. M2 has an equity investment of $300 million with strategic partners being UAE based Phoenix Group and several Abu Dhabi family offices.

UAE crypto custodian Changer AE receives additional crypto broker license from FSRA

UAE crypto custodian Changer AE receives additional crypto broker license from FSRA

UAE based Changer.ae an independent crypto custodian service, has obtained the regulatory approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to conduct the Regulated Activity of Dealing in Investment as Agent. In addition to conducting the Regulated Activity of Providing Custody and offer investors a reliable, convenient, and accessible wallet to safeguard and manage their Virtual Assets, Changer will now be able to securely and seamlessly deal in investments as an agent.

The platform is dedicated to securing users’ Virtual Assets and provides an elevated digital experience and is complemented by a transparent subscription-based monthly service according to the assets held under custody. In addition to Providing Custody, Changer is will launch a new exchange service that provides banking-grade escrow services for secure transactions. This initiative underscores Changer’s commitment to delivering a secure, simple, and seamless digital experience.

As per the announcement, cryptocurrency investors worldwide can easily access Changer’s services via the user-friendly Changer mobile application, available on the App Store, Google Play Store, or Huawei App Gallery.

Wang Hao, CFA, CFtP, Senior Executive Officer of Changer, commented, “We are proud to obtain the FSP license, targeting individuals globally and providing them with a reliable, convenient, and accessible wallet to safeguard and manage their virtual assets. This license marks a significant milestone, highlighting our dedication to delivering a secure, simple, and seamless digital custody service that is independent and regulated”.

changer.ae received  the Financial Services Permission (FSP) license by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) for crypto custodial services in September 2023.

Liminal Custody opens Dubai office in preparation for VARA crypto license

Liminal Custody opens Dubai office in preparation for VARA crypto license

Liminal Custody, a digital asset custody and wallet infrastructure provider has opened an office in Dubai as it awaits its license from VARA after receiving its license in ADGM in Abu Dhabi. The Dubai office will be located in Sheikh Rashid Tower in Dubai within the Dubai World Trade Center Free zone.

According to the press release, this move marks a significant milestone for Liminal as it seeks to cement its role as a key player in the rapidly growing digital asset industry within the MENA region, known for its innovation and institutional adoption.

The expansion enhances Liminal’s existing presence in the region, which includes a Financial Services Permission (FSP) licence from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).

“Our expansion to Dubai, along with our Initial Approval(IA) for a VASP licence from VARA, highlights Liminal’s commitment to fostering the secure growth of the regional digital asset ecosystem,” said Amir Tabch, CEO Middle East at Liminal Custody. “We are eager to collaborate with established entities like DWTC and work closely with VARA to enhance our service offerings. This strategic move enables us to provide comprehensive custody solutions tailored to the evolving needs of Dubai and the broader MENA market.”

In May Liminal Custody acquired the Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) allowing it to operate as a regulated crypto custodian within the Middle East.

HexTrust another crypto custodian has already received its license from VARA

Aspen Digital receives in principle approval to offer digital asset investment services in UAE

Aspen Digital receives in principle approval to offer digital asset investment services in UAE

Aspen Digital, aimed at helping to accelerate the continued adoption of digital assets, and offer technical solutions to asset managers, high net worth individuals, family officers and other financial institutions, has received an in principle approval (IPA) from the regulatory arm of Abu Dhabi ADGM ( Abu Dhabi Global Market). the FSRA.

Aspen Digital which is co-incubated by Everest Ventures Group, a venture studio specializing in digital assets and blockchain technologies and TTB Partners, a regulated, boutique advisory and asset management firm started by Sir John Bond’s family will act as a bridge between tradition finance and the digital assets industry.

Subject to final regulatory approval, Aspen Digital will be licensed to provide financial services out of ADGM and expand its product offering and presence within the rapidly growing digital asset ecosystem in the Middle East.

Aspen Digital’s unique offering as a one-stop solution for private wealth to build their allocation to the alternative digital asset class will play an important role in driving the local ecosystem and broader adoption within the region.

CEO of Aspen Digital, Elliot Andrews said, “The IPA is an important milestone for Aspen Digital as we look to expand both our global footprint and offering within the digital asset sector. With a deep understanding of the asset class, ADGM has built a very comprehensive and clear regulatory framework in which to operate. We are grateful for their support and look forward to working closely with them in driving the next wave of digital asset adoption. 

UAE ADGM regulates first stablecoin issuance from Paxos

UAE ADGM regulates first stablecoin issuance from Paxos

Paxos International, a UAE-based affiliate of Paxos, announced the launch of Lift Dollar (USDL) – a yield-bearing stablecoin issued under regulatory supervision of the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) in UAE. The Lift dollar (USDL) stablecoin is now available to consumers in Argentina via distribution partners Ripio, Buenbit, Manteca and Plus Crypto. 

As per Paxos International press release, USDL is unmatched in the market as holders earn overnight yield from short-term, minimal-risk US government securities and cash equivalent assets held under the safe protection and custody requirements of the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Under the FSRA’s license Paxos International is required to hold only high-quality liquid assets to back USDL – US dollar deposits, short duration US treasuries and cash equivalents. It is required to ensure that USDL will maintain 1:1 parity with the US dollar and consumers can redeem their tokens for fiat at all times. 

This reserve structure is like other Paxos-issued US dollar stablecoins that are backed 1:1. USDL is issued permissionlessly on Ethereum and pays yield programmatically on a daily basis to token holders.

According to the press release, USDL marks an important innovation in democratizing overnight yield by shifting interest earned on stablecoin reserve holdings directly to eligible end holders from the central issuer.

Using an Ethereum smart contract, USDL distributes the yield generated from its reserves to eligible wallet addresses daily without requiring any additional steps by the token holder.

Paxos will retain an issuer fee and pay out the remaining yield earned based on prevailing daily market conditions. Companies in permitted jurisdictions interested in enabling USDL on their platforms can onboard with Paxos International.

Ronak Daya, Head of Product of Paxos International, said, “Lift Dollar is the first stablecoin designed to benefit token holders. Token holders and distribution partners receive daily yield, through an Ethereum smart contract, with all the benefits of a regulated, trusted stablecoin platform. Paxos International has partnered with leaders Ripio, Buenbit, Manteca and Plus Crypto to ensure customers in Argentina are receiving tokens from safe and secure channels. Our targeted launch in this market will ensure millions of token holders will now have safe access to US dollars that enables them to not only save and transact, but also earn daily yield. We are pleased to work with these trusted platforms and look forward to growing our partnerships throughout the year.” 

Sebastián Serrano, CEO and co-founder of Ripio, commented: “The launch of USDL by Paxos represents another significant step in the commitment to offering users robust and reliable options in the world of cryptocurrencies. We are excited to list USDL on our app and continue to provide access to innovative financial tools that promote inclusion and economic freedom for all.” 

Federico Ogue, Chief Executive Officer of Buenbit, added: “We are very happy to partner with Paxos in the launch of USDL. Yield bearing stablecoins are the future of stablecoins as they share revenue generated with the end user. We are glad that Paxos was the first big stablecoin issuer to take this step forward as it is one of the most reputable companies in the field.”

Federico Goldberg, Co-Founder and CEO of Manteca, added: “The launch of USDL in Argentina with Paxos International, whose affiliate already provides services to giants like PayPal, MercadoPago and Nubank, is excellent news for retail customers, our corporate clients in Manteca and the local crypto ecosystem. The fact that USDL allows holders to seamlessly generate income is an incredible differential compared to other alternatives that currently exist. It’s like ‘putting dollars under the mattress’, but modern.”