Bitcoin Suisse, one of Switzerland’s earliest crypto financial services firms, has taken a major step toward establishing itself in the Middle East after securing in-principle approval from Abu Dhabi’s financial regulator. This move shows growing institutional interest in the UAE as a crypto hub and marks Bitcoin Suisse’s first expansion outside the European Union.
The Abu Dhabi Global Market (ADGM)’s Financial Services Regulatory Authority (FSRA) granted preliminary approval to Bitcoin Suisse’s subsidiary, BTCS (Middle East). Once finalized, the license will allow the firm to offer regulated services, including crypto trading, custody, and derivatives in the region.
“This milestone reflects our strong commitment to maintaining the highest standards of transparency, security, and regulatory compliance.”
said Ceyda Majcen, Bitcoin Suisse’s Head of Global Expansion, in a May 21 statement.
“Abu Dhabi presents a compelling opportunity for growth.”
Why the UAE is attracting crypto giants
The UAE has rapidly positioned itself as a crypto-friendly jurisdiction, with Dubai and Abu Dhabi competing to attract blockchain firms through progressive regulations. Bitcoin Suisse joins a growing list of companies—including Circle, Binance, and the Stacks Foundation—that have recently secured approvals in the region.
Analysts say the UAE’s clear regulatory framework and tax incentives make it an appealing alternative to the U.S., where crypto firms face increasing scrutiny. “The Middle East is emerging as the next global crypto hub because regulators here are proactive rather than reactive,” said Dubai-based crypto analyst Rami Alameh.
“Abu Dhabi’s ADGM, in particular, offers a balanced approach that encourages innovation while ensuring investor protection.”
For Bitcoin Suisse, the expansion aligns with its strategy to serve institutional clients in markets with robust oversight. Founded in 2013, the firm played a pivotal role in shaping Switzerland’s “Crypto Valley,” home to over 1,000 blockchain companies today.
Bitcoin Suisse’s legacy and future ambitions
As one of Europe’s first crypto-native financial service providers, Bitcoin Suisse has facilitated over $100 billion in transactions since its inception. The company offers trading, lending, and staking services, catering primarily to high-net-worth individuals and institutions.
The UAE expansion could open doors to deeper partnerships with Middle Eastern wealth funds and family offices, which have shown increasing interest in digital assets.
“The region’s institutional investors are looking for trusted, regulated gateways into crypto,” Majcen noted. “Bitcoin Suisse’s decade-long track record in Switzerland gives us a unique advantage.”
While the full license is still pending, industry watchers expect Bitcoin Suisse to launch its Abu Dhabi operations by early 2025. The firm has already begun hiring local compliance and business development staff.
Regulatory momentum builds in the Middle East
Abu Dhabi’s ADGM has been at the forefront of crypto regulation in the Gulf, introducing comprehensive guidelines for digital asset firms in 2018. Its framework includes strict anti-money laundering (AML) rules and capital requirements, which Bitcoin Suisse will need to meet before receiving its final license.
Other recent entrants to the UAE market include:
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Circle, which secured in-principle approval in April 2024 to issue USDC and offer payment services.
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Stacks Foundation, the first Bitcoin-focused entity to partner with ADGM, aiming to drive Bitcoin-based financial solutions in the region.
“The UAE is sending a clear signal that it wants to be a leader in the next phase of crypto adoption,” said Kyle Ellicott of Stacks Foundation.
“For firms like Bitcoin Suisse, this is an opportunity to build bridges between traditional finance and decentralized technologies.”
With its Swiss roots and now a Middle Eastern foothold, Bitcoin Suisse is positioning itself as a key player in the institutional crypto space, proving that even in a volatile market, regulatory clarity remains the ultimate growth catalyst.
