In a groundbreaking move, M2 ADGM has announced that it now accepts deposits and withdrawals from UAE bank accounts to purchase Bitcoin (BTC) and Ethereum (ETH) with United Arab Emirates’ Dirhams (AED). This new integration, regulated by the Financial Services Regulatory Authority (FSRA) located in the ADGM, marks a significant milestone for the region’s adoption of virtual assets. It not only simplifies the process for UAE residents to buy and sell cryptocurrency but also opens up a new avenue for investment in the rapidly evolving landscape of virtual assets.
The integration with UAE bank accounts allows residents to directly convert AED into BTC and ETH, and vice versa, through trading pairs listed on M2’s spot market. This seamless pathway enables users to quickly adapt to market changes and seize upon growth opportunities in the virtual assets space. Furthermore, the use of robust banking infrastructure ensures the security and reliability of transactions, providing users with a trusted and familiar platform for their cryptocurrency investments.
M2 ADGM, regulated by the FSRA in the ADGM, is one of the world’s most robust virtual asset regulators. The new pathway for UAE residents leverages the strength and security of this regulatory framework to offer both safe custody of virtual assets and the ability to trade BTC and ETH with AED. CEO of M2 Stefan Kimmel emphasized the importance of compliance and security in the integration, stating that it allows UAE residents to benefit from the cutting-edge functionality of the platform within a strict regulatory environment focused on consumer protection and governance. This move signifies M2 ADGM’s commitment to expanding its offering for the MENA region and reducing the friction between traditional finance and virtual assets.
Headquartered in Abu Dhabi, M2’s mission is to drive virtual asset adoption within the UAE by providing a secure and transparent trading environment for investors. Regulated by the FSRA in the ADGM, M2 Limited and M2 Custody Limited uphold the highest standards of regulatory compliance to ensure a safe trading experience for users. The platform offers a wide range of virtual asset products, catering to the growing demand for cryptocurrency investments in the region.
M2 ADGM’s new integration with UAE bank accounts represents a significant step forward in the cryptocurrency market in the UAE. By providing a seamless pathway for residents to buy and sell BTC and ETH with AED, M2 is revolutionizing the way virtual assets are traded in the region. With a focus on compliance, security, and trust, M2 ADGM is setting a new standard for cryptocurrency trading and driving adoption of virtual assets within the UAE.