#Abu Dhabi #Digital Assets #3iQ

3iQ Gains Ground in Digital Asset Regulation in Abu Dhabi

In a significant development for digital investment solutions, 3iQ Corp. has announced that its subsidiary, 3iQ Middle East Ltd, has received preliminary approval (IPA) from the Abu Dhabi Global Market's (ADGM) Financial Services Regulatory Authority (FSRA) for a Category 4 license. This step marks a pivotal moment for 3iQ as it seeks to expand its presence in the fast-evolving market of digital assets.

Strategic Alliances and Growth

This achievement follows 3iQ's strategic alliance with Further Asset Management, a company also based in the UAE, which will allow institutional investors to delve into digital assets via 3iQ's managed accounts platform, known as QMAP. This innovative platform has already seen substantial interest, raising $100 million in seed capital linked to sovereign debt, thereby underscoring the growing confidence in digital asset investments.

3iQ, recognized as a trailblazer in the digital asset sphere, aims to be regulated and establish a foothold in major global digital asset centers. This goal is exemplified by the introduction of the first Bitcoin and Ethereum ETFs trading on prominent stock exchanges, allowing accredited investors unprecedented access to these digital markets.

Leading the Charge in the Middle East

The Middle Eastern operations of 3iQ are led by Rachel Pether, who joined the company in 2023. Rachel has quickly become a key figure in the region, bringing nearly ten years of expertise from Mubadala, the Abu Dhabi sovereign investor. Before that, she was a Senior Advisor at SkyBridge Capital, which significantly bolstered her credentials in investment management.

Rachel expressed optimism about the future, stating, "This is a crucial milestone for 3iQ, achieved through constructive collaboration with the proactive regulator of ADGM. Since establishing our presence in the UAE in 2023, 3iQ has taken significant strides to emerge as a regional leader in attracting sovereign and institutional capital towards digital assets."

Comments from Industry Leaders

Pascal St-Jean, CEO of 3iQ and the Coincheck Group, highlighted the importance of the UAE as a critical hub for digital assets, emphasizing the advanced regulatory framework that protects investors. He stated, "We aspire to solidify our presence in the region, starting with the Abu Dhabi Global Market, in collaboration with Further Asset Management."

Arvind Ramamurthy, who heads market development at ADGM, also congratulated 3iQ on receiving the IPA. He said, "This milestone reflects the growing interest from international companies in ADGM's dynamic digital asset ecosystem, supported by a progressive regulatory framework and an evolving community of market participants. We look forward to supporting 3iQ as it advances through the licensing process and contributes to the growing digital asset ecosystem in Abu Dhabi."

Conclusion

The preliminary approval of 3iQ from the ADGM signifies not only a pivotal moment for the company but also reflects the burgeoning confidence in digital asset management in the Middle East. As 3iQ sets to harness its regulatory status and strategic partnerships, it is poised to lead the charge in this thriving sector, significantly affecting the way institutional investors approach digital asset investments. With Rachel Pether at the helm in the region, the path ahead appears promising, and 3iQ is ready to navigate this exciting landscape.