3iQ Corp. Obtains In-Principle Approval from Abu Dhabi's Financial Services Authority
In a significant step towards expanding its global footprint, 3iQ Corp. has proudly announced that its UAE-based subsidiary, 3iQ Middle East Ltd, has received In-Principle Approval (IPA) for a Category 4 license from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This milestone not only highlights the company's commitment to becoming a leader in the digital asset investment sector but also reflects the growing regulatory support within the United Arab Emirates (UAE), which serves as a strategic digital asset hub.
The approval comes on the heels of 3iQ's strategic partnership with Further, an innovative digital asset investment manager in the UAE. This collaboration is designed to provide institutional investors access to digital assets through 3iQ's Managed Account Platform (QMAP). Notably, the platform has already garnered $100 million in seed capital linked to a sovereign fund.
As a pioneer in the field of digital assets, 3iQ aims to be regulated and have a presence in major investment centers around the globe, thereby ensuring its award-winning investment management services are available to accredited investors. Not only has 3iQ made headlines with the launch of the first Bitcoin and Ethereum exchange-traded funds (ETFs) on recognized stock exchanges, but it is also setting forth a robust infrastructural plan to nurture its initiatives in the UAE.
Leading the charge in the Middle East is Rachel Pether, who joined 3iQ in early 2023 and has quickly emerged as a key figure within the company and the broader investment landscape in the region. Before joining 3iQ, Rachel demonstrated her expertise as a member of the Capital Markets Treasury team at Mubadala, a prominent sovereign investment firm based in Abu Dhabi, and also served as a senior advisor for SkyBridge Capital. Her understanding of the local markets positions 3iQ well to navigate the dynamic regulatory environment.
Pascal St-Jean, the CEO of 3iQ and Coincheck Group, expressed his enthusiasm regarding the IPA, stating, "3iQ has long considered the UAE as a vital hub for digital assets, fortified by a regulatory framework that safeguards investors. As the first mover in innovative digital asset investment solutions, and with our partnership with Further Asset Management, we are excited about solidifying our presence in the region."
Rachel Pether echoed these sentiments: "This development is a testimony to our fruitful collaboration with ADGM's proactive regulatory bodies. Since establishing our presence in 2023, 3iQ has taken significant strides to position ourselves as leaders in the digital asset investment space, reinforced by our success in attracting significant capital from sovereign and institutional sources."
The IPA’s approval has been warmly welcomed by Arvind Ramamurthy, Chief Market Development Officer at ADGM. He stated, "Congratulations to 3iQ for obtaining its IPA from the FSRA, an essential milestone in its journey toward establishing a regulated presence in ADGM. This reflects the rising international interest in ADGM’s vibrant digital asset ecosystem, supported by a forward-thinking regulatory framework and a growing network of both global and regional market participants. We look forward to assisting 3iQ as it continues through the licensing procedure and contributes to Abu Dhabi's burgeoning digital asset landscape."
The confident strides taken by 3iQ Company underline the UAE's ambition to position itself as a leading center for digital finance and investment. This regulatory approval not only opens doors for 3iQ but also acts as a testament to the region's growing relevance in the global financial ecosystem.
As the digital asset market continues to evolve, stakeholders including investors, innovators, and regulatory bodies will keep a watchful eye on 3iQ's developments, anticipating how their efforts will shape the future landscape of digital finance, especially in the Middle East. The trajectory seems promising as 3iQ looks to leverage its organizational strengths and partnerships to bridge opportunities for investors seeking exposure to digital assets.
The approval comes on the heels of 3iQ's strategic partnership with Further, an innovative digital asset investment manager in the UAE. This collaboration is designed to provide institutional investors access to digital assets through 3iQ's Managed Account Platform (QMAP). Notably, the platform has already garnered $100 million in seed capital linked to a sovereign fund.
As a pioneer in the field of digital assets, 3iQ aims to be regulated and have a presence in major investment centers around the globe, thereby ensuring its award-winning investment management services are available to accredited investors. Not only has 3iQ made headlines with the launch of the first Bitcoin and Ethereum exchange-traded funds (ETFs) on recognized stock exchanges, but it is also setting forth a robust infrastructural plan to nurture its initiatives in the UAE.
Leading the charge in the Middle East is Rachel Pether, who joined 3iQ in early 2023 and has quickly emerged as a key figure within the company and the broader investment landscape in the region. Before joining 3iQ, Rachel demonstrated her expertise as a member of the Capital Markets Treasury team at Mubadala, a prominent sovereign investment firm based in Abu Dhabi, and also served as a senior advisor for SkyBridge Capital. Her understanding of the local markets positions 3iQ well to navigate the dynamic regulatory environment.
Pascal St-Jean, the CEO of 3iQ and Coincheck Group, expressed his enthusiasm regarding the IPA, stating, "3iQ has long considered the UAE as a vital hub for digital assets, fortified by a regulatory framework that safeguards investors. As the first mover in innovative digital asset investment solutions, and with our partnership with Further Asset Management, we are excited about solidifying our presence in the region."
Rachel Pether echoed these sentiments: "This development is a testimony to our fruitful collaboration with ADGM's proactive regulatory bodies. Since establishing our presence in 2023, 3iQ has taken significant strides to position ourselves as leaders in the digital asset investment space, reinforced by our success in attracting significant capital from sovereign and institutional sources."
The IPA’s approval has been warmly welcomed by Arvind Ramamurthy, Chief Market Development Officer at ADGM. He stated, "Congratulations to 3iQ for obtaining its IPA from the FSRA, an essential milestone in its journey toward establishing a regulated presence in ADGM. This reflects the rising international interest in ADGM’s vibrant digital asset ecosystem, supported by a forward-thinking regulatory framework and a growing network of both global and regional market participants. We look forward to assisting 3iQ as it continues through the licensing procedure and contributes to Abu Dhabi's burgeoning digital asset landscape."
The confident strides taken by 3iQ Company underline the UAE's ambition to position itself as a leading center for digital finance and investment. This regulatory approval not only opens doors for 3iQ but also acts as a testament to the region's growing relevance in the global financial ecosystem.
As the digital asset market continues to evolve, stakeholders including investors, innovators, and regulatory bodies will keep a watchful eye on 3iQ's developments, anticipating how their efforts will shape the future landscape of digital finance, especially in the Middle East. The trajectory seems promising as 3iQ looks to leverage its organizational strengths and partnerships to bridge opportunities for investors seeking exposure to digital assets.
Topics Financial Services & Investing）
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