NEW YORK--(BUSINESS WIRE)--Securrency, Inc., a US-based provider of financial and regulatory technology products for the tokenized issuance and trading of securities, today announced its intention to secure a license to operate a crypto-asset business with strategic partners under the new Abu Dhabi Global Market (ADGM) crypto regulatory framework. Securrency will file an application with the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial center in the Emirate of Abu Dhabi in the United Arab Emirates (UAE). The company will partner with top global blockchain companies and innovative industry leaders to create and launch a fully-regulated crypto-asset business for institutional clients, globally. Leveraging Securrency’s top-tier security and compliance tools, this platform will provide institutional-grade crypto custodial services, as well as an exchange platform accessing large-scale global liquidity.
Earlier this year, as part of its expansion strategy for the Middle East and North Africa (MENA) region, Securrency applied for and received authority to operate in the ADGM RegLab sandbox testing environment. While in the RegLab, and under the oversight of the FSRA of ADGM, Securrency will demonstrate its ability to create secure and compliant tokenized securities for issuers in the MENA region – and globally – using its innovative RegTex™ technology. Securrency’s proprietary services not only enforce compliance in the onboarding (KYC/AML/KYW), subscription, enrollment and issuance process, but also use unique Compliance Aware TokenTM technology to ensure tokenized securities remain compliant after issuance – including in secondary-market trading.
John Hensel, Chief Operating Officer of Securrency and Senior Executive Officer of Securrency MENA, said, “We are incredibly excited to join ADGM’s RegLab – we’re fully aligned with their mission to create a secure and compliant global market in the AGDM for issuers of tokenized securities and investors in both tokenized securities and crypto assets. Our near-term vision is to launch fully-regulated exchanges for both asset classes in this market under the auspices of ADGM’s existing multi-lateral trading facility rules and newly-issued crypto regulatory framework. This is the only way to provide stability, overcome challenges and ultimately, facilitate economic development via investment opportunities, particularly for private equity and institutional investors in this region.”
Wai Lum Kwok, Executive Director, Capital Markets, Financial Services Regulatory Authority of ADGM, added: “Securrency recently joined ADGM as one of our RegLab firms, adding vibrancy to the FinTech and financial community in Abu Dhabi with their suite of innovative technologies and compliance solutions. As an international financial services regulator, we welcome innovators, businesses, and financial firms to make use of our regulated platform to conduct and grow their businesses. We are encouraged by Securrency’s plans to submit an application to set up a marketplace for digital assets in ADGM. Along with their strategic partners, Securrency will leverage our comprehensive regulatory regime to foster governance, efficiency and transparency in crypto asset activities.”
Securrency is a technology products company that delivers a complete suite of security and compliance tools to issuers, broker-dealers, and alternative trading system (ATS) operators to enable the issuance, maintenance, and secondary trading of tokenized securities.
Securrency has developed a unique Compliance Aware Token™ that embeds regulatory and transactional rules in a compliance layer to facilitate legally-compliant securities offerings in the United States and globally. Securrency’s protocol can be utilized on the Ethereum, Stellar, Ripple, EOS and other distributed ledgers, as well as on legacy systems, allowing for seamless on-chain and off-chain movement of tokens.
Securrency was formed in 2015 by US national security and technology experts to enable the free trading of previously illiquid asset classes through compliance and unparalleled interoperability. Securrency offers secure, scalable FinTech/RegTech tools either as individual modules or as a customized venue for listing securities via Security Token Offerings (STOs) while providing global KYC (Know Your Customer), anti-money laundering (AML) and other essential jurisdictional compliance for access to investors.