M2 Exchange can now provide custody services to UAE residents

Investors will be able to buy bitcoin and ether on the upcoming crypto exchange

article-image

Casablanca Stock/Shutterstock modified by Blockworks

share

M2 Exchange, a soon-to-be launched crypto exchange based in Abu Dhabi, was granted the ability to offer custody and multilateral trading services for UAE residents on Wednesday.

Abu Dhabi’s financial regulator awarded M2 with a Financial Services Permission (FSP) license in the Abu Dhabi Global Market (ADGM), an economic free zone. 

With the license, M2 can service both institutional and retail clients who want to buy, sell or custody digital assets. And now that its foot is in the door, M2 plans to launch its platform “later this year,” according to a press release from the ADGM.

Blockworks reached out to M2, and the company said it doesn’t have a confirmed launch date.

M2 CEO Stefan Kimmel said he was “delighted” to be receiving this license and pledged to keep in close contact with the ADGM during the process of getting the platform off the ground.

“The process of obtaining the license is the first step on our journey and we will remain in close dialogue with ADGM to ensure transparency around the custody of client assets,” Kimmel said in a statement.

The ADGM also gave a glimpse into the particulars of what M2 will be offering. 

Investors will be able to buy bitcoin (BTC) and ether (ETH) on the upcoming crypto exchange. The platform will have “institutional grade trading features” and will have a “on and off-ramp for fiat payments.”

After the platform goes live, M2 is planning to “increase the number of assets and services offered to include derivatives along with a market leading yield product,” according to the statement.

Abu Dhabi financial regulator also recently granted crypto company Rain the same license it awarded to M2.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

An improving outlook on tariffs is positive for cryptocurrencies, but a sustained rally is going to take movement on the regulatory front

article-image

Apollo’s Christine Moy explained how the “velocity” of innovation in crypto has led to the evolution of RWAs

article-image

Warren Buffett attributes his astounding investment returns to only about a dozen “truly good decisions” he’s made

article-image

This report has been corrected.

article-image

Stablecoin revenue a bright spot for the crypto exchange in Q1, as trading revenue dropped 19% quarter over quarter

article-image

Creators are being told to “shill” their tokens and cash in on their “cults”