Abu Dhabi was among the first to establish a bespoke licensing regime for virtual asset service providers.
Zodia Markets, a digital asset marketplace backed by Standard Chartered Ventures, has been granted approval in principle to operate as an over-the-counter crypto broker-dealer in Abu Dhabi, the firm said Wednesday.
The approval was granted by the Abu Dhabi Global Market , an international finance center within the United Arab Emirates that has been attempting to attract crypto-related businesses. The in-principle level is seen as the third step in a five-stage application process. The next stages involve getting final approval and going through an"operational launch" test, according to the
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