Matrix has launched what it claims is the first virtual assets trading platform to be fully compliant with the Abu Dhabi Global Market’s (ADGM) virtual asset framework.
The Matrix offering is licensed by the Financial Services Regulatory Authority as a regulated virtual asset multilateral trading facility and custodian.
It serves both retail and institutional investors with a global trading platform and institutional-grade hot and cold storage.
The UAE has designated the virtual assets market and blockchain technology as priorities and in 2018, it launched the Emirates Blockchain Strategy with the aim of migrating 50% of government transactions to the blockchain by the end of 2021.
“The lack of fiat-to-virtual asset on and off ramps has been a major source of friction for investors around the world,” said James Wo, chairman of Matrix and founder of Digital Finance Group.
“The UAE has been a trailblazer when it comes to instituting regulations that are favourable to innovation and investment, and we are appreciative for the support of the FSRA in this launch,” added Wo.
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