Toronto, October 12 (Reuters/ PR Newswire ) – 3iQ Corp. (“3iQ”) announced that its sister company in the United Arab Emirates, 3iQ Middle East Ltd, has received preliminary approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market ( ADGM ) for four types of licenses ( IPA ). ADGM is located in Abu Dhabi, the capital of the United Arab Emirates.

The company stated that this progress comes shortly after it reached a strategic partnership with the UAE digital asset investment management firm Further. This collaboration enables institutional investors to access digital assets through 3iQ’s Managed Account Platform ( QMAP ); 3iQ claims that this platform has attracted $1 billion in sovereign-related seed capital.

3iQ stated that obtaining this principled approval is part of the company's goal to achieve regulated operations in major global digital asset centers and establish a business presence, thereby making its award-winning investment management services accessible to qualified investors worldwide. The company mentioned that this includes Bitcoin and Ethereum, which are among the first to be listed on major stock exchanges. ETF

3iQ's business in the Middle East is led by the Middle East regional head, Rachel Pether. The company stated that Rachel joined 3iQ in 2023 and has since become an important figure in the region. Before joining 3iQ, she worked for nearly a decade in the Capital Markets and Finance team at Abu Dhabi's sovereign investment institution, Mubadala, and was previously a senior advisor for SkyBridge Capital.

3iQ CEO and Coincheck Group CEO Pascal St - Jean states:

"3iQ has always been very optimistic about the UAE's position as a key center for digital assets, as it boasts an advanced regulatory system that can protect investors. As a pioneer in innovative digital asset investment solutions, 3iQ's collaboration with Further Asset Management will help the company further consolidate its presence in this region, starting with the Abu Dhabi global market."

3iQ's Middle East head, Rachel Pether, stated:

"This is an exciting development for 3iQ, thanks to our constructive cooperation with the proactive regulatory authorities of ADGM. Since we established our business in the United Arab Emirates in 2023, 3iQ has been taking steps to become a leader in the region, leveraging our proven track record in attracting sovereign wealth and institutional capital into the digital assets sector."

ADGM Chief Officer of Market Development Arvind Ramamurthy stated:

We congratulate 3iQ on receiving the principled approval for FSRA, which is an important step in its process of establishing a regulated business in ADGM. This milestone reflects the growing interest of international companies in ADGM's vibrant digital asset ecosystem, which is supported by a progressive regulatory framework and a continuously growing community of global and regional market participants. We look forward to providing support as 3iQ advances with its licensing application process and contributes to Abu Dhabi's rapidly developing digital asset ecosystem.