Institutional Adoption
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Tungsten Custody Solutions, a prominent regulated digital asset custodian, is proud to announce that it has received regulatory approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to provide custody services for Toncoin (TON). This approval reinforces Tungsten’s reputation as a trusted custodian for institutional clients seeking secure and compliant custody solutions for digital assets.
This milestone comes as ADGM continues to enhance its position as a global hub for digital assets, with the Toncoin (TON) DLT Foundation recently establishing its base in ADGM. This development underscores Abu Dhabi’s commitment to fostering blockchain innovation while maintaining regulatory clarity and supporting institutional adoption.
Toncoin (TON) has seen significant adoption, particularly within Telegram’s ecosystem, becoming the exclusive cryptocurrency for non-fiat payments related to the platform’s assets and services. Tungsten’s FSRA-regulated custody provides institutional investors and enterprises with secure, institutional-grade storage for Toncoin (TON), with strong compliance oversight and risk management.
Jose Aguinaga, Senior Executive Officer of Tungsten Custody Solutions Ltd, commented: "Securing regulatory approval to provide custody for Toncoin is a significant milestone for Tungsten and our commitment to offering regulated, institutional-grade custody solutions for a wide range of digital assets. With ADGM emerging as a key hub for blockchain innovation, we are proud to be at the forefront of enabling secure and compliant access to Toncoin for institutional investors and enterprises."
"We’re thrilled to see Tungsten receive regulatory approval from the Abu Dhabi Global Market to provide secure custody for Toncoin," said Manuel Stotz, President at TON Foundation. "This approval reflects not only the growing institutional interest in TON, but in blockchain, crypto, and digital assets generally. It also highlights Abu Dhabi’s commitment to building a trusted, clear regulatory framework that supports decentralized organizations and champions blockchain innovation. With their deep expertise and unwavering commitment to compliance, Tungsten is the ideal partner for institutions looking to securely store Toncoin."
This approval aligns with ADGM’s increasing prominence as a global leader in virtual asset regulation, ensuring that Toncoin (TON) holders have access to secure, regulated custody services. As more blockchain foundations and institutional investors establish their presence in Abu Dhabi, Tungsten remains dedicated to providing compliant, secure, and scalable custody solutions.
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