Turkish crypto group Bitexen has received two Financial Services Permissions from the FSRA of Abu Dhabi Global Market (ADGM), the company said on Wednesday.
Bitexen MENA Ltd was authorised to operate a Multilateral Trading Facility (MTF) for virtual assets and fiat-referenced tokens, while Bitexen Custody Ltd was approved to provide custody for the same asset classes. Bitexen MENA appears on ADGM’s public register under licence number 260043.
The permissions give the group a regulated venue-plus-custody structure inside ADGM, which has had a virtual asset regulatory framework in place since 2018.
Bitexen said it has selected ADGM as the operational headquarters for its regulated entities.
“Abu Dhabi will sit at the very heart of Bitexen Group’s international expansion as we continue building regulated digital asset infrastructure for global markets,” said Kemal Cenk Erdem, Chairman of Bitexen MENA and Bitexen Custody.
Both entities are registered in Tamouh Tower on Al Reem Island in Abu Dhabi.
Bitexen Group says it serves nearly 5 million users globally and operates across Turkey, South Africa, Lithuania, and the UAE.
