How can crypto companies enter the Abu Dhabi Global Market?


Abu Dhabi Global Market (ADGM) is one of the biggest and most prosperous financial centers on the globe.

Located in the capital of the United Arab Emirates, ADGM has a regulatory branch called the Financial Services Regulatory Authority (FSRA). If any company wants to be a member of the hub, it has to pass through the FSRA regulations. Coinfirm can help with that.

ADGM – a fast-growing marketplace

Abu Dhabi, one of the seven emirates that comprise the United Arab Emirates (UAE), has always wanted to be a pioneer in the financial field. For this very reason, in 2015, Abu Dhabi Global Market was established in 2015.It is a special economic area (often called a free zone) for banking and finance companies.

In many ways, it resembles another well-known free zone from UAE – Dubai International Financial Centre (DIFC). Similarly to DIFC, ADGM develops its own laws, regulations, and judiciary. As a special economic area, ADGM operates as a separate jurisdiction. Dubai has been a business capital for many years, but Abu Dhabi wants to take over the leading position and become a go-to place for the financial sector. Established on Al Maryah Island, Abu Dhabi Global Market is a significant step in this direction. Since 2015, it has attracted many big companies and organizations.

Unlike the legal system in the UAE, ADGM has its own laws based on common law, which makes it a very attractive place for foreign investors, especially for blockchain companies. As of today, there are more than 60 institutions under its wings.

FSRA – a regulatory body

ADGM has three independent authorities: the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA), and ADGM Courts. Those three uphold the law of the organization.

FSRA manages any potential risks exposure and undesirable impact. It means that the Financial Services Regulatory Authority decides whether a company can become a part of ADGM. So, how can crypto companies enter the Abu Dhabi Global Market? Simply by meeting the FSRA requirements.

How can Coinfirm help?

Coinfirm has proven experience in obtaining any regulatory licenses and permissions. The company has developed services responding to the needs of crypto entities that are interested in operations within the ADGM zone.

Positive verification by FSRA

To enter the Abu Dhabi Global Market, every company or organization has to get a positive verification by FSRA. Coinfirm can help with that.

A few months ago, FSRA introduced guidance called Regulation of Digital Securities Activity in ADGM. It covers all the requirements needed to obtain a license for crypto assets business activity.

Coinfirm has already been examined by the Financial Services Regulatory Authority. The blockchain analytics organization presented its services to the FSRA, explained methodology, technicalities, and calculating formula. The platform has proven that its solution fulfills the expectations related to digital assets screening. After the examination, the authority confirmed that Coinfirm tracks and verifies crypto funds in accordance with the organization’s regulatory requirements.

Coinfirm – proven solution

According to the guidance, “the FSRA does not, at this point in time, envisage allowing listings of Digital Securities within ADGM (on a secondary listing basis) where the primary listing remains outside of the ADGM, and in a jurisdiction that is not yet appropriately understood or deemed suitable by FSRA.

The instruction also touches on the subject of suitable legal advisors. It says that issuers, who intend to make an Offer of Digital Securities, should look for suitable legal advisers. The consultant should provide assistance throughout the process.

Later, the FSRA suggests that the organization expects “to have direct engagement with an Issuer’s legal advisers throughout this process, particularly in relation to the drafting, and FSRA review, of Offer documentation.

Coinfirm, as a blockchain AML solution company, provides services that meet all of those demands. The firm’s solution helps the applicants to stay in line with requirements. The blockchain solution service supports them in daily operations (including reporting obligations). AML analytics platform established a proven path to pass the FSRA’s verification.

Expand your business

Abu Dhabi Global Market was designed to act as a catalyst for the growth of a dynamic financial services sector in the UAE. In just a few years of operating, ADGM has created an environment for foreign companies to expand their businesses in the Middle East.

There are at least several advantages of operating in the ADGM zone:

  • an easy way of setting up businesses,
  • 100% foreign ownership,
  • 0% personal or corporate tax,
  • unlimited return of capital to the country of its origin,
  • no restriction of employment.

What’s even more appealing, Abu Dhabi Global Market allows various types of companies to operate under its supervision:

  • private companies,
  • public companies,
  • cell companies,
  • restricted scope companies (RSC).

If you want to expand your activity and enter new markets, you should consider joining ADGM. Coinfirm can help with that. If you wish to know more about the company’s offer and how it can help in your case, please contact us.