Abu Dhabi-based crypto asset exchange, Matrix Exchange announced on July 12 that it has received an In-Principle Approval (IPA) from by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to operate as a crypto asset exchange and custodian in ADGM.
The United Arab Emirates keeps embracing and regulating blockchain & crypto assets into its financial system. ADGM was first in the Middle East and Africa region to establish and launch a fully operational and regulated crypto-asset framework and regime in June 2018. The ADGM business friendly and well-regulated ecosystem continues to attract more and global digital assets investors, blockchain technology companies and other related financial institutions to the UAE.