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Aspen Digital Receives In-Principle Approval for a Financial Services Permission to operate out of Abu Dhabi Global Market
- Aspen Digital will establish its financial services headquarters in Abu Dhabi to directly provide financial services to its clients.
- Subject to final approval, the Financial Services Permission (FSP) upon being issued will permit Aspen Digital to broaden its financial services offerings across numerous international regions
HONG KONG, June 14, 2024 /PRNewswire/ — Aspen Digital has been granted an in-principle approval (IPA) from the FSRA to carry out regulated activities in Abu Dhabi Global Market (ADGM). Subject to final regulatory approval, Aspen Digital will be licensed to provide financial services out of ADGM and expand its product offering and presence within the rapidly growing digital asset ecosystem in the Middle East.
The IPA is an important milestone for Aspen Digital’s expansion plans within the region and the comprehensive regulatory framework under the FSRA is very aligned with the future of the platform. Aspen Digital’s unique offering as a one-stop solution for private wealth to build their allocation to the alternative digital asset class will play an important role in driving the local ecosystem and broader adoption within the region. ADGM’s deep understanding of the asset class and its regulatory approach to working with the industry paves the way for building the region into a global financial services hub.
Founded in 2021 under Everest Ventures Group (EVG) and backed by investors including Rothschild Investment Trust (RIT Capital Partners) and Liberty City Ventures, Aspen Digital is a leading digital asset technology platform for family offices, UHNWI and wealth managers enabling clients to seamlessly allocate to the asset class through their one-stop solution.
CEO of Aspen Digital, Elliot Andrews said, “The IPA is an important milestone for Aspen Digital as we look to expand both our global footprint and offering within the digital asset sector. With a deep understanding of the asset class, ADGM has built a very comprehensive and clear regulatory framework in which to operate. We are grateful for their support and look forward to working closely with them in driving the next wave of digital asset adoption.
Arvind Ramamurthy, Chief of Market Development at ADGM said, “We congratulate Aspen Digital on obtaining its IPA from the FSRA of ADGM. The private wealth and alternative asset service providers catering to family offices, UHNWIs, and wealth managers are both lucrative and emerging. ADGM’s regulatory regimes empower such service providers to tap into these opportunities in Abu Dhabi and beyond. We look forward to Aspen Digital’s innovative offerings that will aim to accelerate the growth of the digital asset sector in the region.”
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