In a groundbreaking move, M2 ADGM now allows UAE residents to use their local bank accounts to purchase Bitcoin (BTC) and Ethereum (ETH) with United Arab Emirates Dirhams (AED). This integration, regulated by the Financial Services Regulatory Authority (FSRA) within the Abu Dhabi Global Market (ADGM), signifies a momentous shift in the region’s adoption of virtual assets.
Through M2 ADGM’s virtual asset custodian and Multilateral Trading Facility, UAE residents now have a simplified pathway to buy and sell BTC and ETH directly through their bank accounts. This development streamlines the process of converting AED to BTC and ETH, allowing users to capitalize on market fluctuations with ease.
As a regulated entity under the FSRA within the ADGM, M2 ADGM upholds stringent standards of compliance and security. By leveraging the robust banking infrastructure of the UAE, the platform offers users the familiarity of traditional financial services combined with cutting-edge virtual asset trading capabilities.
Stefan Kimmel, CEO of M2, emphasizes the significance of this compliant integration for UAE residents. He highlights the seamless experience that users can expect, underpinned by a commitment to consumer protection, technology, governance, and custody within a rigorous regulatory framework.
Headquartered in Abu Dhabi, M2 is dedicated to fostering the adoption of virtual assets in the UAE through a secure and transparent trading environment. By offering a diverse range of virtual asset products and adhering to regulatory guidelines set forth by the FSRA, M2 aims to provide investors with a safe and compliant trading experience.
The integration of UAE bank accounts for purchasing BTC and ETH represents a significant step towards expanding access to virtual assets in the region. With a focus on compliance, security, and user experience, M2 ADGM is well-positioned to drive the growth of virtual asset adoption in the UAE while bridging the gap between traditional finance and digital assets.