Abu Dhabi: HAYVN, the global institutional virtual asset platform, today announced that it has successfully received its “go-live” approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Markets (ADGM), the Abu Dhabi’s first international financial center and officially opened its ADGM-based entity to the firm’s custody and trading clients.
HAYVN obtained its Financial Services Authorization (FSP) from ADGM on December 23, 2021, which authorized it to arrange investment transactions and provide safekeeping of accepted virtual assets.
“There is a three-step process for authorizing all virtual asset organizations within the ADGM ecosystem… First, the primary approval, followed by the FSP and completed only by the “go-live” approval. “. ADGM is one of the world’s leading virtual asset regulatory jurisdictions and the sole virtual asset regulator in Abu Dhabi. We are delighted to be one of the few global companies to have completed the entire authorization process and look forward to serving our customers from our new ADGM offices starting today,” said Rensche Olivier. , Director of Regulatory Affairs at HAYVN.
Christopher Flinos, Co-Founder and Managing Director of HAYVN, said, “With recent market news regarding the regulation of virtual assets across the UAE, it is becoming increasingly important for our region to Establishing a Strong Regulated Institutional Leader As the only regulated custody and trading platform within the region’s leading regulator, HAYVN leads the movement of regional institutional capital into virtual assets.
Regulated entity HAYVN ADGM combines a leading OTC trading desk and custody offering allowing clients to buy, sell and obtain custody of large amounts of virtual assets.
HAYVN is a financial institution focused on virtual assets, authorized to arrange investment transactions and provide custody of virtual assets accepted within the ADGM. HAYVN also provides payment, asset management and research services to our global customer base. Regulated by ADGM, CIMA and soon FINMA, HAYVN is one of the world leaders in institutional virtual assets, serving high net worth individuals, small and medium enterprises, corporations and institutions with a full range of assets virtual market leaders. offerings. To learn more about HAYVN, visit us at www.hayvnglobal.com
About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM), an international financial center (IFC) located in the capital of the United Arab Emirates, opened on October 21, 2015. Established by Federal Decree of the United Arab Emirates as a broad-based financial center , ADGM is increasing Abu Dhabi’s position as a global trade and business hub serving as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM’s strategy is anchored by Abu Dhabi’s core strengths spanning private banking, wealth management, asset management, derivatives and commodities trading, financial innovation, sustainability and more again. Composed of four independent authorities: the ADGM Authority, the ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, the ADGM, as IFC, governs all of the 114 hectares (1 .14 km²) of Al Maryah Island, which is a designated financial free zone.
It enables registered financial and non-financial institutions, businesses and entities to operate, innovate and succeed within an international regulatory framework based on common law. Since its inception, ADGM has received the “Financial Center of the Year (MENA)” award for four consecutive years for its initiatives and contributions to the financial and capital markets sector in the region.*
For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
* Source: Global Investor Middle East and North Africa (MENA) Award
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