3iQ Receives Preliminary Approval From Abu Dhabi Financial Hub

3iQ Corp., a company specializing in digital asset investment solutions, has announced it has received an In-Principle Approval (IPA) for a Category 4 license from the Abu Dhabi Global Market (ADGM).

The approval allows 3iQ's United Arab Emirates-based subsidiary, 3iQ Middle East Ltd, to pursue a license as part of its global expansion strategy. This move aims to offer the company's regulated investment solutions for digital assets to the Middle Eastern market.

3iQ's expansion into Abu Dhabi is intended to solidify its presence in key global digital asset hubs. The company is known for offering products such as the world's first publicly traded Bitcoin and Ethereum ETFs. The regional operations are led by Rachel Pether, 3iQ's Head of Middle East, who previously worked at Abu Dhabi's sovereign investor, Mubadala.

CEO Pascal St-Jean highlighted Abu Dhabi's regulatory framework, stating it protects investors in the digital asset space. Arvind Ramamurthy from ADGM welcomed 3iQ, emphasizing the financial hub's growing ecosystem for international firms.

Previously, 3iQ secured $100 million in seed capital for its managed account platform. The company's objective is to provide institutional and accredited investors with regulated access to digital assets.