Abu Dhabi, United Arab Emirates, July 31st, 2024, Chainwire
• M2 ADGM now accepts deposits and withdrawals from UAE bank accounts to purchase Bitcoin (BTC) and Ethereum (ETH) with United Arab Emirates’ Dirhams (AED)
• The new integration from M2 ADGM, regulated by the Financial Services Regulatory Authority (FSRA) located in the ADGM, marks a significant milestone for the region’s adoption of virtual assets
M2 ADGM, a virtual asset custodian and a Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) located in the ADGM, today announces a new and simplified pathway for UAE residents to buy and sell Bitcoin (BTC) and Ethereum (ETH) through a direct integration with their bank account.
The integration serves as a significant milestone both for the wider accessibility of virtual assets in the region, as well as M2 ADGM, as they work to expand upon a best-in-class product offering within a rapidly evolving landscape.
This enables UAE residents to seamlessly and confidently convert United Arab Emirates’ Dirhams (AED) into BTC and ETH – and vice versa – via trading pairs listed on M2’s spot market. This allows users to seize upon and swiftly adapt to market changes, in a pivotal moment of growth in the virtual assets space, both in the UAE and globally.
M2 ADGM is regulated by the FSRA – located in the ADGM – considered one of the world’s most robust virtual asset regulators. The new pathway, which leverages the strength and security of robust banking infrastructure, is the most recent milestone in M2 ADGM’s continued work to build trust and industry leading compliance in providing both the safe custody of virtual assets, and the ability to trade Bitcoin (BTC) and Ethereum (ETH) with UAE Dirham (AED).
Speaking on the addition, CEO of M2 Stefan Kimmel said, “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. 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.”
To learn more about M2 ADGM’ s new, secure and seamless UAE bank account integration for UAE residents to buy and sell virtual assets, users can visit https://www.m2.com/en_AE/.
About M2
Headquartered in Abu Dhabi, M2’s mission is to drive virtual asset adoption within the UAE by delivering a secure and transparent trading environment for investors. The platform provides investors with a growing suite of virtual asset products while ensuring strict regulatory compliance. Regulated by the Financial Services Regulatory Authority (FSRA) located in the Abu Dhabi Global Market (ADGM), M2 Limited and M2 Custody Limited are committed to ensuring a safe trading experience, upholding the highest standards of regulatory compliance.
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