3iQ receives in-principle approval for ADGM licence in UAE

By Divya Shah

Why it matters: The approval highlights the UAE’s growing role as a regulated hub for digital assets and institutional crypto investment. For FinTechs, it signals continued regulatory support for digital asset innovation, creating opportunities for partnerships, investment products, custody services and tokenised asset offerings. 

3iQ Corp., a provider of digital asset investment solutions, has secured in-principle approval (IPA) through its UAE-based subsidiary, 3iQ Middle East Ltd, for a Category 4 licence from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). 

The company’s expansion across the Middle East follows its recently announced strategic partnership with UAE-based digital asset investment manager Further Asset Management. 

The partnership is expected to provide institutional investors with access to digital asset investment opportunities through 3iQ’s Managed Account Platform (QMAP), a platform that attracted $100 million in sovereign-linked seed capital. 

Pascal St-Jean, CEO of 3iQ and Coincheck Group, said the company aims to strengthen its presence in the region through its collaboration with Further Asset Management and by establishing operations within ADGM. 

The company said the approval supports its broader strategy of building a regulated presence across major digital asset hubs globally. 3iQ is known for launching some of the world’s first publicly listed Bitcoin and Ethereum exchange-traded funds (ETFs) on major stock exchanges, expanding institutional access to digital asset investments. 

Rachel Pether, Head of Middle East at 3iQ, described the approval as an important milestone achieved through collaboration with ADGM’s regulator. She noted that since establishing a presence in the UAE in 2023, the company has focused on becoming a leading player in the region by leveraging its experience in attracting sovereign wealth and institutional capital into digital assets. 

The latest approval positions 3iQ to further expand its regulated investment management activities in the UAE, reflecting the growing interest among institutional investors in digital asset products and the region’s ambitions to become a global hub for digital finance.