ADFW sees more digital asset players expand into ADGM

The influx of investment firms expanding into ADGM is still ongoing during ADFW, with day three seeing more digital asset firms announcing plans to set up shop in the financial center.

ADGM’S NEWCOMERS-

#1- Blockchain firm Aptos Foundation expanded into ADGM, with plans to use the office as a base for expanding its operations across the region and establishing strategic partnerships, Chainwire reports.

#2- Transatlantic mid-market buyout firm OpenGate Capital Management (OGC) is also setting up shop in ADGM, after Abu Dhabi Catalyst Partners (ADCP), a JV between Mubadala Capital and investment firm Alpha Wave Global, invested an undisclosed amount in the final closing of its private equity fund, which targets lower to mid-market industrial businesses in the US and Western Europe, a press release reads. The fund’s strategy targets operational improvements, including streamlining production processes, divesting non-core assets, and pursuing international bolt-on acquisitions.

#3- Zodia Markets gets the greenlight to operate in ADGM: Asset broker Zodia Markets was granted permission by the Financial Services Regulatory Authority to operate as a regulated virtual asset brokerage in ADGM, according to an ADGM statement. The new branch will offer digital asset solutions across the country and the region.

#4- Investment firm Marcuard Heritage secured a 3C asset manager licence from the Financial Services Regulatory Authority, according to an ADGM statement. The new office will provide services in wealth planning and investment solutions, planning to expand its team by recruiting relationship managers from the Mena region.

#5- Digital asset trader and lender VersiFi received an in-principle approval (IPA) from the Financial Services Regulatory Authority to expand into ADGM, according to an ADGM statement. The firm is currently working to address the IPA conditions to obtain final regulatory approval.

These latest firms join many others planning to set up shop in the financial center, with at least five pledging to expand operations there this week alone.

MORE FROM ADGM-

Tether's USD₮ is officially recognized as an Accepted Virtual Asset by the Financial Services Regulatory Authority in ADGM, according to a press release. This approval allows licensed financial service providers in ADGM to offer services related to USD₮, facilitating its integration into the regulated financial ecosystem.The recognition covers USD₮ issued on multiple blockchains, including Ethereum, Solana, and Avalanche.