Crypto News

New UAE Bank Account Integration for Virtual Asset Trading by M2 ADGM

5 months ago
5 months ago

Abu Dhabi, United Arab Emirates, July 31st, 2024, Chainwire

• M2 ADGM now accepts deposits and withdrawals from UAE bank accounts to purchase Bitcoin (BTC) and Ethereum (ETH) with United Arab Emirates’ Dirhams (AED)

• The new integration from M2 ADGM, regulated by the Financial Services Regulatory Authority (FSRA) located in the ADGM, marks a significant milestone for the region’s adoption of virtual assets

M2 ADGM, a virtual asset custodian and a Multilateral Trading Facility regulated by the Financial Services Regulatory Authority (FSRA) located in the ADGM, has introduced a simplified pathway for UAE residents to trade Bitcoin (BTC) and Ethereum (ETH) directly through their bank accounts.

This integration is a crucial step in improving accessibility to virtual assets in the region and showcases M2 ADGM’s commitment to offering top-notch products in a rapidly changing landscape.

UAE residents can now easily convert United Arab Emirates Dirhams (AED) into BTC and ETH, and vice versa, using trading pairs available on M2’s spot market. This empowers users to capitalize on market fluctuations during a pivotal moment of growth in the virtual assets sector, both locally and globally.

Regulated by the FSRA in the ADGM, known for its stringent regulations, M2 ADGM’s new pathway utilizes secure banking infrastructure to enhance trust and compliance in safeguarding virtual assets and facilitating BTC and ETH trading with UAE Dirham (AED).

CEO of M2, Stefan Kimmel, commented on the addition, stating, “Through this compliant integration, UAE residents can benefit from the familiarity of their trusted banking services combined with the cutting-edge security and functionality of our platform – all within one of the world’s strictest regulatory frameworks prioritizing consumer protection, technology, governance, and custody. This is a significant advancement for M2 ADGM as we expand our services for the MENA region and simplify the transition between traditional finance and virtual assets.”

To learn more about M2 ADGM’s secure and seamless UAE bank account integration for UAE residents interested in buying and selling virtual assets, visit their website.

About M2

Headquartered in Abu Dhabi, M2 aims to promote virtual asset adoption in the UAE by offering a secure and transparent trading environment for investors. Regulated by the FSRA in the ADGM, M2 Limited and M2 Custody Limited prioritize regulatory compliance to ensure a safe trading experience.

Contact

Junior Consultant Jacob McGoldrick CW8 Communications jacob@cw8-communications.com

This article was originally published on Chainwire

Analysis:

M2 ADGM’s recent announcement regarding the seamless integration of UAE bank accounts for purchasing Bitcoin and Ethereum with Dirhams is a game-changer for UAE residents interested in virtual assets. This development not only simplifies the process of buying and selling BTC and ETH but also signifies the region’s increasing acceptance of cryptocurrencies.

By leveraging the robust regulatory framework provided by the FSRA in the ADGM, M2 ADGM ensures that users can trade virtual assets securely and compliantly. This move aligns with the company’s goal of expanding their offerings in the MENA region while bridging the gap between traditional finance and the emerging virtual assets market.

For investors and residents in the UAE, this integration opens up new opportunities to participate in the growing virtual assets space with confidence and convenience. The ability to seamlessly convert Dirhams into BTC and ETH, and vice versa, using a trusted banking platform like M2 ADGM, represents a significant step towards mainstream adoption of cryptocurrencies in the region.

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