3iQ Receives In-Principal Approval from Abu Dhabi's IFC
Canadian crypto fund manager 3iQ has received in-principle approval from Abu Dhabi's International Financial Centre (ADGM). This allows for the company's expansion into the Middle Eastern market.
Canadian digital asset management firm 3iQ has secured in-principle approval from Abu Dhabi Global Market (ADGM), the United Arab Emirates' financial free zone. This approval marks a significant step in the company's international expansion strategy and its aim to offer digital asset funds to global investors.
The in-principle approval permits 3iQ to establish a presence in Abu Dhabi, positioning it to serve investors within the Middle East region. Previously, the firm successfully launched publicly traded funds in Canada and the United States, focusing particularly on Bitcoin and Ethereum funds.
ADGM functions as a financial hub that supports the development of digital assets and financial technology in the region. 3iQ's establishment within ADGM is expected to bolster the local crypto market and attract further international entities to Abu Dhabi.
The company anticipates receiving its final license in the near future, which will solidify its role as a prominent digital asset manager.