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<p>eToro, the retail and social trading platform, has successfully secured a coveted license from the Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE). Additionally, virtual asset firm M2 has become a fully regulated Multilateral Trading Facility (MTF) and custodian through the ADGM.</p><h2 id="header-0">eToro global expansion</h2><p>In eToro’s case, the Financial Services Permission (FSP) license empowers it to operate as a broker in securities, derivatives and crypto assets within the UAE. The firm <a href="https://x.com/eToro/status/1729228481899184486?s&#61;20" rel="noopener noreferrer nofollow">announced</a> its regulatory success on Monday, the first day of Abu Dhabi Finance Week.</p><p>eToro’s foray into the UAE market is part of its broader global expansion plan. With an eye on the potential of the UAE’s investor base, eToro seeks to extend its business beyond just providing trading opportunities. The company is committed to fostering financial education and encouraging community engagement among its users in the region.</p><p>The latest issuance of a full license by the ADGM is the culmination of an initial in-principle authorization obtained over a year ago, showcasing a deliberate approach to regulatory compliance. eToro Founder and CEO Yoni Assia commented on the development in a press release, <a href="https://www.etoro.com/news-and-analysis/press-releases/etoro-recognises-abu-dhabi-as-a-rising-fintech-hub-receives-approval-from-adgm-to-operate-in-the-uae/" rel="noopener noreferrer nofollow">stating</a>:</p><p>“The approval of our operating license by ADGM is a key milestone in our continued global expansion. Abu Dhabi is increasingly recognized as a growing fintech hub, and we are excited to become part of this flourishing ecosystem.”</p><h2 id="header-1">M2 primed to onboard retail and institutional clients</h2><p>Simultaneously, cryptocurrency exchange M2 has also been recognized by the ADGM, earning the status of a fully regulated Multilateral Trading Facility and custodian. M2 is now permitted by this license to serve both retail and institutional clients in the UAE, offering services such as crypto custody, UAE dirham-based Bitcoin and Ethereum trading and on/off-ramp services for the dirham (AED).</p><p>Stefan Kimmel, CEO of M2, considers the timing of this license as particularly advantageous, coinciding with a renewed positive sentiment among investors. M2’s range of services in the UAE market is designed for diverse client groups, addressing the needs of both retail and institutional investors.</p><h2 id="header-2">Official platform launch</h2><p>In rolling out its service offering in Abu Dhabi, the trading and custodial services platform has partnered with Abu Dhabi Commercial Bank (ADCB). Commencing this week, both retail and institutional clients within the UAE can now register on the M2 platform.</p><p>The firm will offer custody and trading of digital assets while also extending yield-bearing products of up to 10.5% on BTC and ETH.</p><p>The strategic geographical location, business-friendly environment and forward-thinking regulatory approach make the UAE an attractive destination for international crypto players seeking operational licenses. Earlier this month, the ADGM’s registration authority <a href="https://medium.com/&#64;coinness.gl/abu-dhabis-adgm-unveils-dlt-foundations-regulations-f682fa376937" rel="noopener noreferrer nofollow">introduced</a> comprehensive regulations, particularly focusing on Web3 organizations. The regulatory framework has focused in particular on distributed ledger technology (DLT)-oriented foundations and decentralized autonomous organizations (DAOs).</p><p>The successful acquisition of ADGM licenses by eToro and M2 marks a significant milestone for both entities. As these platforms introduce their innovative services to the region, the UAE is poised to play a central role in shaping the future of cryptocurrency.</p>

eToro, M2 secure licenses bolstering UAE crypto development

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