M2 ADGM, a virtual asset custodian and Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) located in the Abu Dhabi Global Market (ADGM), has announced a new integration that allows UAE residents to buy and sell Bitcoin (BTC) and Ethereum (ETH) directly through their bank accounts.
This new feature marks a significant milestone in the region’s adoption of virtual assets, making it easier for UAE residents to convert United Arab Emirates Dirhams (AED) into BTC and ETH, and vice versa. The integration supports trading pairs listed on M2’s spot market, enabling users to quickly respond to market changes in a rapidly evolving virtual assets landscape.
Key Highlights:
Direct Bank Integration: UAE residents can now seamlessly deposit and withdraw AED to purchase BTC and ETH.
Regulatory Oversight: M2 ADGM operates under the robust regulatory framework of the FSRA, ensuring top-tier security and compliance.
Enhanced Accessibility: This integration reduces friction between traditional finance and virtual assets, promoting wider accessibility in the MENA region.
M2 ADGM’s CEO, Stefan Kimmel, highlighted the significance of this development, stating, “Through this compliant integration, UAE residents can enjoy the familiarity of their existing and trusted banking services, coupled with the cutting-edge security and functionality of our platform – all executed within one of the world’s strictest regulatory frameworks where consumer protection, technology, governance, and custody are paramount.”
He added, “It is a significant step for M2 ADGM as we work to expand our offering for the MENA region and reduce the friction in how clients can navigate between traditional finance and virtual assets.” This initiative underscores M2 ADGM’s commitment to providing a secure, seamless, and efficient way for UAE residents to engage in the virtual assets market, leveraging the strength and security of the UAE’s banking infrastructure.
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