XBTO receives Full 3A licence approval from ADGM
Abu Dhabi, UAE – XBTO, a 10-year global leader in institutional digital asset management, is proud to announce that it has received full approval for its Financial Services Permission (FSP) under the 3A licence category from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) in the UAE.
The approval authorises XBTO to provide a range of financial services in and from ADGM, including custody, dealing in investments as matched principal, advising on investments, and arranging deals in investments. This marks a significant milestone in the company's expansion strategy across the MENA region and beyond.
'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,' said Philippe Bekhazi, CEO and Founder of XBTO Group. '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.'
The licence enables XBTO to operate as a regulated counterparty to institutional investors, including sovereign wealth funds, family offices, and regional financial institutions. It also allows the company to actively market its services across the UAE, bolstering its ability to engage directly with local stakeholders and deepen its presence in the region.
'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,' said Karl Naim, Chief Commercial Officer and General Manager for UAE at XBTO. 'ADGM has created a forward-thinking environment that balances innovation with robust oversight - a model we are proud to be part of.'
The licence approval complements XBTO's existing regulatory footprint in Bermuda and is part of its broader global expansion strategy, with the next regulatory milestone being its anticipated entry into the UK market.
XBTO's regulatory approval has been welcomed by key stakeholders within Abu Dhabi's thriving digital asset ecosystem. The company has been an active participant in Hub71's specialized digital assets cohort and has collaborated with the technology hub on educational initiatives focused on advancing digital asset knowledge and best practices across the region.
Peter Abou Hachem, Head of Growth and Strategy, 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."
XBTO is exploring plans to celebrate this milestone with a media event in Abu Dhabi, underlining its commitment to fostering long-term partnerships within the UAE and the wider region.
About XBTO
From asset management to capital markets, XBTO helps clients capture opportunities in the age of digital assets. Founded in 2015 as a proprietary trading firm, XBTO built its foundation through nearly a decade of active participation in digital asset markets. Since 2023, XBTO has expanded into a full-service crypto quantitative investment firm. With a strong focus on Bitcoin, XBTO delivers risk-adjusted strategies across the alpha–beta continuum designed to perform across market cycles and regulatory environments. With decades of experience earned at the world's leading financial institutions and deep expertise in digital markets, XBTO brings a rare combination of financial discipline and digital-native insight. XBTO operates under robust regulatory oversight, with operating entities regulated by the Bermuda Monetary Authority and the Financial Services Regulatory Authority in Abu Dhabi. It operates from key financial hubs including Bermuda, New York, Miami, London, Paris, and Abu Dhabi.
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