3iQ Receives In-Principle Approval from Abu Dhabi's IFC

3iQ Corp, a company specializing in digital asset investment solutions, has secured an In-Principle Approval (IPA) for a Category 4 license from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The approval, granted to its UAE-based sister company 3iQ Middle East Ltd, signifies a step towards the firm's operational expansion within the United Arab Emirates.

This development is part of 3iQ's broader objective to establish regulated operations in key digital asset hubs worldwide. The company aims to make its investment management offerings, which include the first publicly listed Bitcoin and Ethereum ETFs, accessible to accredited investors globally.

The move follows 3iQ's recent strategic partnership with Further Asset Management, designed to provide institutional investors access to digital assets through 3iQ's QMAP managed account platform. This partnership has reportedly attracted $100 million in seed capital from sovereign sources.

Rachel Pether, Head of Middle East at 3iQ, highlighted the supportive regulatory environment provided by ADGM. 3iQ CEO Pascal St-Jean emphasized the UAE's role as a significant digital asset hub and expressed confidence in the future of the company's operations in Abu Dhabi.