MENA’s first institutional crypto asset trading platform to launch in ADGM

MidChains is a blockchain enabled financial investment exchange, that is gearing to launch its crypto exchange platform in Abu Dhabi. It will be setting up under the crypto asset regulatory framework in the Abu Dhabi Global Market (ADGM); with the main customer focus on institutions and professional investors.

It has already filed the application with the Financial Services Regulatory Authority (FSRA) of ADGM, and is pending their approval in order to launch its fully regulated platform. Following the approval, MidChains’ platform will be the first of its kind in the region. It will employ premium management, security and compliance solutions, and is set to offer a comprehensive range of services including custodial services and larger liquidity.

Co-Founder and CEO of MidChains, Basil Al Askari, said, “We see two key gaps to fill in the digital asset market and in the evolution of electronic investment trading. The first is providing a sophisticated crypto capital market for professional investors to transact with their preferred strategies. The second is in building a future-proof financial infrastructure to incentivise both new and existing investment services firms to conduct business in ADGM. We are encouraged to see ADGM pioneering this space and acting as a FinTech hub for Emirati startups, enabling us to compete on a global scale.”

Read more about MidChains and their crypto exchange platform here.