Aspen Digital gains crypto broker and custody license from ADGM in UAE

Aspen Digital gains crypto broker and custody license from ADGM in UAE

Aspen Digital, a full-service private wealth management platform built for family offices and ultra-high net worth clients allocating into digital assets, co-incubated by Everest Ventures Group and TTB Partners and backed by RIT Capital Partners, Liberty City Ventures and Token Bay Capital today has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority of ADGM.

The license grants the company permission to provide broker-dealer, asset management, advisory, and custody services under its fully regulated and best-in-class tech platform. The wealth management platform received preliminary approval back in June 2024.

Elliot Andrews, CEO of Aspen Digital, said, “ADGM has established itself as a global center for digital assets, and we look forward to contributing to the continued development of the ecosystem. With digital assets increasingly becoming an important part of the private wealth portfolio, Aspen Digital is uniquely positioned to service this segment of clients in the region by providing a holistic solution across the asset class.”

Arvind Ramamurthy, Chief Market Development, ADGM, added, “We are delighted to welcome Aspen Digital to ADGM, further cementing its reputation as a global financial hub and its growing prominence as a leading wealth management hub. Aspen Digital’s decision to establish its presence in ADGM is a testament to the strength of our regulatory framework and our ability to enable private wealth platforms to serve the growing demand for digital assets across the region. We look forward to supporting Aspen Digital in its journey to advance the private wealth management landscape in Abu Dhabi and beyond.”

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.