3iQ Secures In-Principle ADGM Approval for UAE Expansion

Canadian digital asset investment manager 3iQ has received in-principle approval for a Category 4 financial services license from Abu Dhabi Global Market’s Financial Services Regulatory Authority, establishing a regulated presence in the UAE.

The approval was granted to 3iQ Middle East Ltd, the company’s UAE-based affiliate, according to an announcement dated October 12, 2026. The authorization remains subject to the completion of the licensing process.

The development follows 3iQ’s strategic partnership with UAE-based digital asset investment manager Further to provide institutional investors with access to digital assets through 3iQ’s Managed Account Platform, known as QMAP. The platform has attracted $100 million in sovereign-linked seed capital, according to the company.

3iQ Expands Its Middle East Presence

The approval forms part of 3iQ’s broader strategy to establish a regulated presence across major digital asset markets and expand access to its investment management products among accredited investors worldwide.

The company has positioned itself as an early provider of digital asset investment products, including Bitcoin and Ethereum exchange-traded funds listed on major stock exchanges.

3iQ’s Middle East operations are led by Rachel Pether, who joined the company in 2023. Pether previously spent nearly a decade on the capital markets and treasury team at Abu Dhabi sovereign investor Mubadala and served as a senior adviser to SkyBridge Capital.

Pether said the approval followed collaboration with ADGM’s regulator and reflected the company’s efforts to build a stronger regional presence since establishing a footprint in the UAE in 2023.

ADGM Attracts International Digital Asset Firms

Pascal St-Jean, CEO of 3iQ and Coincheck Group, said the company views the UAE as an important digital asset hub, citing its regulatory framework and investor protections. He added that the partnership with Further would support 3iQ’s efforts to establish its presence in the region, beginning with Abu Dhabi.

Arvind Ramamurthy, ADGM’s chief market development officer, welcomed the approval, describing it as a milestone in 3iQ’s path toward establishing a regulated operation within the financial centre.

Ramamurthy said international firms were showing increasing interest in ADGM’s digital asset ecosystem, supported by its regulatory framework and growing network of regional and global market participants. He added that ADGM would support 3iQ as it progresses through the remaining licensing requirements.

The 3iQ ADGM license approval brings the company closer to operating within Abu Dhabi’s financial centre, although it does not, by itself, confirm that the company has received its final license.