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Securrency to open crypto-asset business in UAE

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Securrency, a US-based provider of financial and regulatory technology products for the tokenised issuance and trading of securities, is planning to secure a license to operate a crypto-asset business with strategic partners under the new Abu Dhabi Global Market (ADGM) crypto regulatory framework.

Securrency will file an application with the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre in the Emirate of Abu Dhabi in the United Arab Emirates (UAE). The company will partner with top global blockchain companies and innovative industry leaders to create and launch a fully-regulated crypto-asset business for institutional clients, globally. Leveraging Securrency’s top-tier security and compliance tools, this platform will provide institutional-grade crypto custodial services, as well as an exchange platform accessing large-scale global liquidity.

Earlier this year, as part of its expansion strategy for the Middle East and North Africa (MENA) region, Securrency applied for and received authority to operate in the ADGM RegLab sandbox testing environment. While in the RegLab, and under the oversight of the FSRA of ADGM, Securrency will demonstrate its ability to create secure and compliant tokenised securities for issuers in the MENA region – and globally – using its innovative RegTex technology. Securrency’s proprietary services not only enforce compliance in the onboarding (KYC/AML/KYW), subscription, enrolment and issuance process, but also use unique Compliance Aware TokenTM technology to ensure tokenised securities remain compliant after issuance – including in secondary-market trading.

John Hensel (pictured), Chief Operating Officer of Securrency and Senior Executive Officer of Securrency MENA, says: “We are incredibly excited to join ADGM’s RegLab – we’re fully aligned with their mission to create a secure and compliant global market in the AGDM for issuers of tokenised securities and investors in both tokenised securities and crypto assets. Our near-term vision is to launch fully-regulated exchanges for both asset classes in this market under the auspices of ADGM’s existing multi-lateral trading facility rules and newly-issued crypto regulatory framework. This is the only way to provide stability, overcome challenges and ultimately, facilitate economic development via investment opportunities, particularly for private equity and institutional investors in this region.”

Wai Lum Kwok, Executive Director, Capital Markets, Financial Services Regulatory Authority of ADGM, adds: “Securrency recently joined ADGM as one of our RegLab firms, adding vibrancy to the FinTech and financial community in Abu Dhabi with their suite of innovative technologies and compliance solutions. As an international financial services regulator, we welcome innovators, businesses, and financial firms to make use of our regulated platform to conduct and grow their businesses. We are encouraged by Securrency’s plans to submit an application to set up a marketplace for digital assets in ADGM. Along with their strategic partners, Securrency will leverage our comprehensive regulatory regime to foster governance, efficiency and transparency in crypto asset activities.”


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