![](\"https:\/\/youragentpage.info\/wp-content\/uploads\/2025\/05\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NmYyMzgtMTVmZS03OGRlLTg1YzEtMWJlODAxNzA5MjI4.jpg\")
<\/p>\n<\/p>\n<\/p>\n<\/p>\n
<\/p>\n
Bitcoin Suisse secured an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), marking a major step in the Swiss crypto firm’s expansion beyond the European Union.<\/p>\n
The Swiss crypto financial service provider received the in-principle approval through its subsidiary BTCS (Middle East), according<\/a> to a May 21 news release.<\/p>\n The IPA is a precursor to a full financial services license, which would allow Bitcoin Suisse to provide regulated crypto financial services such as digital asset trading, crypto securities and derivatives offerings, as well as custody solutions.<\/p>\n The approval reflects the firm’s “strong commitment to maintaining the highest standards of transparency, security, and regulatory compliance,” according to Ceyda Majcen, head of global expansion and designated senior executive officer of BTCS (Middle East).<\/p>\n “Abu Dhabi, one of the Middle East’s fastest-growing financial centers, presents a compelling opportunity for growth. We look forward to working closely with the FSRA to obtain our full license,” Majcen wrote in a May 21 X announcement<\/a>.<\/p>\n Related: <\/strong><\/em>German gov’t missed out on $2.3B profit after selling Bitcoin at $57K<\/strong><\/em><\/a><\/p>\n This marks Bitcoin Suisse’s first expansion outside of the European Union.<\/p>\n Founded in 2013, Bitcoin Suisse played a significant role in developing the country’s crypto ecosystem and has been a key contributor to Switzerland’s Crypto Valley<\/a>, a Switzerland-based blockchain ecosystem valued at more than $500 billion.<\/p>\n Related: <\/strong><\/em>Hoskinson promises audit, is ‘deeply hurt’ by $600M Cardano treasury claims<\/strong><\/em><\/a><\/p>\n Increasingly more crypto firms are expanding into the Middle East, seeing the region as the next potential global crypto hub due to its business-friendly regulatory licensing environment.<\/p>\n On April 29, Circle, the issuer<\/a> of the world’s second-largest stablecoin, USDC (USDC<\/a>), received an in-principle approval from the FSRA, moving one step closer to the full license to become a regulated money service provider in the United Arab Emirates.<\/p>\nCrypto firms bet on Middle East as next global crypto hub<\/h2>\n