XBTO Secures Full ADGM Regulatory Approval to Expand Institutional Digital Asset Services in UAE
XBTO, a global institutional digital asset management leader with a decade-long track record, has received full approval for its Financial Services Permission (FSP) under the 3A licence category from the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM).
This approval authorizes XBTO to deliver a broad suite of regulated financial services in and from ADGM, including custody, dealing in investments as matched principal, investment advisory, and arranging deals in investments. The milestone strengthens XBTO’s strategic expansion across the MENA region and beyond.
The full FSP follows the in-principle approval (IPA) that XBTO secured from ADGM’s FSRA last September, which allowed the company to begin laying the groundwork for operations in the UAE. The full regulatory approval marks a major step in XBTO’s long-term commitment to the region.
Commenting on the approval, Philippe Bekhazi, CEO and Founder of XBTO Group, said:
“The UAE is a leading market in digital assets, and the 3A licence enables us to be a part of a positive digital movement in the region. This licence also serves to reinforce our long-term commitment to institutional integrity, regulatory transparency, and financial innovation in the UAE. ADGM has built one of the most respected regulatory frameworks in the digital asset space globally, and we are honoured to be recognised under its jurisdiction.”
With the 3A licence, XBTO is now positioned to act as a regulated counterparty to institutional investors such as sovereign wealth funds, family offices, and regional financial institutions. The approval also permits XBTO to actively promote its services across the UAE, enabling direct engagement with local stakeholders and enhancing its regional footprint.
Karl Naim, Chief Commercial Officer and UAE General Manager at XBTO, added:
“This approval gives XBTO the strategic footing to engage more actively with regional partners and demonstrates our alignment with the UAE’s vision of becoming a global hub for digital finance. ADGM has created a forward-thinking environment that balances innovation with robust oversight – a model we are proud to be part of.”
The ADGM licence enhances XBTO’s existing regulatory presence in Bermuda and forms part of its broader international expansion roadmap, which includes an upcoming regulatory entry into the UK market.
XBTO’s approval has been warmly received within Abu Dhabi’s dynamic digital asset ecosystem. The company is an active member of Hub71’s dedicated digital assets cohort and has partnered with the innovation hub on educational programs aimed at promoting digital asset literacy and best practices in the region.
Peter Abou Hachem, Head of Growth and Strategy at Hub71, said:
“We’re proud to see XBTO, a global leader in digital assets, secure their 3A license and scale from Hub71 to serve the world. Their move to Abu Dhabi reflects a clear shift toward the Middle East – one of the fastest-growing and most liquid markets globally. XBTO’s focus on regulatory excellence and innovation embodies the caliber of founders we back. As more startups choose our ecosystem to launch and grow, we remain committed to helping them scale with speed and impact.”
To mark this achievement, XBTO is considering hosting a media event in Abu Dhabi, further highlighting its dedication to long-term partnerships and engagement in the UAE and broader region.
