Swiss Crypto Giant Bitcoin Suisse Secures Abu Dhabi Regulatory Approval—Will $6B Firm Trigger Middle East’s Crypto Boom?

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Hassan Shittu

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Hassan Shittu

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Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

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May 21, 2025

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Bitcoin Suisse, a leading Swiss crypto financial services provider, announced that its subsidiary, BTCS (Middle East) Ltd., has received In-Principle Approval (IPA) on May 20, 2025, from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).

The IPA allows Bitcoin Suisse to pursue full licensing within the ADGM, a leading international financial center renowned for its rigorous and globally respected virtual asset regulatory framework.

Once licensed, the firm will be authorized to offer regulated digital asset services in Abu Dhabi, including trading in cryptocurrencies, crypto securities, derivatives, and secure local custody solutions.

Ceyda Majcen, Head of Global Expansion and designated Senior Executive Officer of BTCS (Middle East) Ltd, noted that the approval indicates the firm’s “strong commitment to maintaining the highest standards of transparency, security, and regulatory compliance.”

“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 and to bring our decade of experience in crypto finance to the region’s rapidly evolving digital asset ecosystem,” Ceyda Majcen stated.

Established in 2013, Bitcoin Suisse has played a foundational role in Switzerland’s Crypto Valley and has become a trusted name in secure, compliant crypto asset solutions for private and institutional clients.

The company currently holds over $6 billion (AED 22.2 billion) in digital assets under custody and manages over $2.6 billion (AED 8.9 billion) in institutional staking services, ranking it among the world’s largest providers of digital asset custody and staking solutions.

Middle East Emerges as a Global Crypto Hub

The Middle East, particularly the United Arab Emirates, is rapidly positioning itself as a cryptocurrency and blockchain innovation ecosystem. The region’s progressive regulatory frameworks and business-friendly environments are attracting major crypto firms seeking to expand their operations.

The UAE has emerged as a central hub for blockchain and digital asset activity, offering a robust, multilayered regulatory environment. The FSRA governs ADGM in Abu Dhabi, while the Virtual Assets Regulatory Authority (VARA) regulates Dubai’s digital asset sector. The Securities and Commodities Authority (SCA) oversees broader crypto activities at the national level.

The UAE’s ambition to become a leading global crypto hub is reflected in its dedicated free zones, such as the Dubai Multi Commodities Centre (DMCC) and Ras Al Khaimah Digital Assets Oasis, which offer regulatory autonomy and business incubation for digital asset firms.

This structured approach has turned the UAE into a magnet for international crypto firms. In the past year alone, the region has experienced record growth in digital asset engagement.

The Middle East saw nearly $390 billion in on-chain crypto volume between mid-2022 and mid-2023, accounting for over 7% of global activity—a figure expected to rise as more exchanges become licensed and operational in 2025.

The UAE alone experienced a 241% increase in cryptocurrency app downloads from 2023 to 2024, with over 15 million installs by year-end and record growth in December.

Major financial institutions and global crypto firms are deepening their presence in the Gulf. Goldman Sachs, Rothschild, and Lazard have expanded into the region, while sovereign funds like Mubadala are making direct investments in crypto, such as the $2 billion stake in Binance by Abu Dhabi’s MGX in March 2025.

Ripple Labs, Chainalysis, and Crypto.com have all secured regulatory approvals or established regional hubs, further cementing the Middle East’s status as a magnet for institutional capital and innovation.