Abu Dhabi Financial Week Marks New Era with $9 Trillion in Assets Committed to ADGM

Abu Dhabi Financial Week: A Turning Point in Global Capital Flows

The Abu Dhabi Global Market (ADGM), known as the international financial center situated in Abu Dhabi, recently celebrated a significant milestone as it kicked off its second decade with a remarkable announcement during the Abu Dhabi Financial Week (ADFW). This year’s highlight was the addition of 11 new major financial institutions, which collectively manage over $9 trillion in assets. This represents a substantial increase compared to the $635 billion from last year and $450 billion in 2023, marking one of the most significant expansions for any financial center on a global scale.

As the largest and most ambitious edition of ADFW, this year's event underlined Abu Dhabi's position as the “capital of capital,” reaffirming the city’s pivotal role in global capital flows. The ADFW serves as a global platform to showcase Abu Dhabi’s capabilities as a flourishing financial center, which is further enriched by top-tier institutional players and a world-class regulatory ecosystem provided by the ADGM.

With this remarkable boost in managed assets, the ADGM solidifies its standing as the fastest-growing international financial center in the region and one of the most dynamic worldwide. The growth witnessed is not merely an incremental development; it symbolizes a substantial transformation in Abu Dhabi's role within the global financial system, indicating a shift towards becoming a more influential hub in the international arena.

During the ADFW, a range of prestigious entities—including Cantor Fitzgerald, UBS Group, KKR, and others—declared their intent to establish a presence within the ADGM. This strategic move signifies a promising start for the upcoming decade of growth for the ADGM, positioning it among the top five international financial hubs around the globe.

In efforts to maintain this upward trajectory, the ADGM is set to continue defining international benchmarks in key growth areas such as asset management, digital assets, sustainable finance, and advanced wealth management services. All these are supported by a flexible and evolving regulatory framework that adheres to the highest global standards.

His Excellency Ahmed Jasim Al Zaabi, Chairman of the ADGM, stated, “The commitments announced during ADFW underscore Abu Dhabi's growing influence at the center of global capital flows and the long-term confidence that international institutions place in the clarity and breadth of our vision.” He further emphasized the establishment of a resilient, reliable, and modern financial ecosystem in Abu Dhabi, built on solid regulatory foundations.

Notably, this year's ADFW marked a historic development in the global regulatory landscape for digital assets when Binance became the first cryptocurrency exchange platform to obtain a formal global license from the Financial Services Regulatory Authority (FSRA) of the ADGM. This landmark approval signifies a pivotal progress in ADGM's quest to position itself as the most scalable and compliant digital assets ecosystem in the world.

Richard Teng, co-CEO of Binance, remarked, “During ADFW, Binance achieved a historic milestone as the first global cryptocurrency exchange platform to obtain a full global license under the ADGM. This reflects our compliance-centered philosophy and ongoing priorities—transparency, security, and user protection.” He further reaffirmed Binance's commitment to responsible innovation and sustainable growth within the cryptocurrency sector in the region.

Other notable announcements from the financial technology and digital asset sectors include iCapital's establishment of its first Middle Eastern office in Abu Dhabi and several firms like Galaxy Digital and Animoca Asset Management ramping up their operations within the ADGM. Additionally, RIQ, owned by IHC, announced its partnership with Swiss Re, aiming to enhance data-driven reinsurance solutions from its base in the ADGM.

Furthermore, JPMorgan has expanded its treasury and payment services from ADGM, enabling them to offer a broader array of solutions for liquidity management and multi-currency payments to clients in the region.

In essence, the Abu Dhabi Financial Week is not just a momentary event; it represents the dawn of a new era, with the UAE capital solidifying its position as a global leader in finance and investment. As Abu Dhabi integrates itself further into the global financial architecture, the world watches closely, anticipating the innovative solutions and services that will emerge in the coming years.

For more information and updates, visit ADFW.