QCP Capital’s Expansion to Abu Dhabi: A New Era for Crypto Trading with Initial Regulatory Approval

  • Crypto derivatives trading pioneer, QCP Capital, has recently received in-principle approval in Abu Dhabi, marking its expansion into the UAE region.
  • The company plans to transfer over 70 employees to Abu Dhabi to commence operations in the region.
  • QCP Capital recently entered into a partnership with Further Ventures, a local venture capital fund.

QCP Capital, a leading player in crypto derivatives trading, has secured preliminary approval to establish operations in Abu Dhabi, marking a significant expansion for crypto firms in the Middle East.

QCP Bags Regulatory Nod In Abu Dhabi

The Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) granted QCP Capital in-principle approval to engage in regulated activities. This positions QCP as the first Singapore-based digital-asset market maker and broker dealer to receive preliminary approval. With the United Arab Emirates intensifying efforts to attract more crypto entities, QCP plans to transition some of its 70-plus employees to Abu Dhabi upon securing a full license.

Abu Dhabi’s Progressive Regulatory Stance

QCP’s CEO, Melvin Deng, underscored Abu Dhabi’s progressive regulatory stance, emphasizing its holistic approach to digital assets within the broader financial ecosystem. According to a Bloomberg report, Deng stated, “Abu Dhabi has got very progressive regulators in that they are thinking about the digital assets as a complete ecosystem with all of traditional finance.”

Recent Partnership In Abu Dhabi

QCP announced a partnership with Abu Dhabi venture capital firm, Further Ventures. The collaboration aims to pioneer new digital asset products. Upon securing the full license, the firm plans to prioritize core activities such as trading and market making in the region.

Conclusion

QCP Capital’s expansion into Abu Dhabi signifies a significant move for crypto firms in the Middle East. The firm’s recent partnership with Further Ventures and the transfer of over 70 employees to Abu Dhabi further underscores its commitment to establishing a strong presence in the region.

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