Abbreviation | ADGM |
---|---|
Formation | 2013 |
Legal status | active |
Headquarters | Al Maryah Island, Abu Dhabi, United Arab Emirates |
Website | https://www.adgm.com/ |
Abu Dhabi Global Market (ADGM) is an international financial centre and free zone located on Al Maryah Island in the United Arab Emirates's capital, Abu Dhabi.[ citation needed ] The financial centre was established in 2013 and became fully operational in October 2015.[ citation needed ] It has three authorities – the financial services regulator, the registration bureau and the ADGM courts, whose Chief Justice is Lord Hope of Craighead. [1] [2]
In January 2015, the Abu Dhabi Global Market announced that it had renamed the location it was based in, “Sowwah Square”, to "Abu Dhabi Global Market Square". [3]
ADGM regulates the trading of digital assets and became an attractive jurisdiction for crypto companies after it introduced digital asset regulation in 2018. [4] That same year ADGM joined the World Alliance of International Financial Centers. [5]
The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 4th largest in the Middle East, with a gross domestic product (GDP) of US$415 billion in 2021-2023.
Ahmed Ali Al Sayegh is an Emirati politician who is a minister of state in the United Arab Emirates since 19 September 2018.
Dubai World Trade Centre (DWTC) is a convention and exhibition centre.
The Dubai Multi Commodities Centre (DMCC) is a commodities exchange and free-trade zone in the United Arab Emirates. It is located in the Jumeirah Lake Towers district of Dubai. The DMCC was created in 2002 and deals in four main sectors: precious commodities ; energy; steel and metals and agricultural commodities.
Al Maryah Island, formerly known as Sowwah Island, is a natural island located northeast of Abu Dhabi, the capital of the United Arab Emirates. It is named for a famous oasis region in Abu Dhabi, Al Mariyah, which in turn is named after the species of Arabian deer - Al Mariyah - which live there.
LMAX Group is a global financial technology company which operates multiple institutional execution venues for electronic foreign exchange (FX) and crypto currency trading. The Group's portfolio includes LMAX Exchange, LMAX Global and LMAX Digital.
Abu Dhabi Financial Group (ADFG) is a global investment management group, headquartered in Abu Dhabi.
The judicial system of the United Arab Emirates is divided into federal courts and local courts. The federal justice system is defined in the Constitution of the United Arab Emirates, with the Federal Supreme Court based at Abu Dhabi. As of 2023, only the emirates of Abu Dhabi, Dubai and Ras Al Khaimah have local court systems, while all other emirates use the federal court system for all legal proceedings.
Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. The company has the subsidiaries Foundry, Genesis, Grayscale Investments, and Luno. It also formerly owned CoinDesk.
OKX is a global cryptocurrency spot and derivatives exchange and the second biggest crypto exchange by trading volume, serving over 50 million people globally. It was founded by Star Xu in 2017, who is also the CEO as of 2023. The President is Hong Fang and the CMO is Haider Rafique. OKX is owned by OK Group, which also owns the crypto exchange Okcoin. As of August 2024, OKX is Top 3 Spot Cryptocurrency exchange in the world according to Coinmarketcap with a Spot Exchange Score of 7.8.
Citibank National Association, United Arab Emirates commonly known as Citibank U.A.E., is a franchise subsidiary of Citigroup, a multinational financial services corporation headquartered in New York City, United States. Citi U.A.E. is connected by a network spanning 98 markets across the world. The phone support call center for Citibank U.A.E. retail banking clients is based at Citibank Bahrain.
A security token offering (STO) / tokenized IPO is a type of public offering in which tokenized digital securities, known as security tokens, are sold in security token exchanges. Tokens can be used to trade real financial assets such as equities and fixed income, and use a blockchain virtual ledger system to store and validate token transactions.
Paxos Trust Company is a New York–based financial institution and technology company specializing in blockchain. The company's product offerings include a cryptocurrency brokerage service, asset tokenization services, and settlement services. ItBit, a bitcoin exchange run by Paxos, was the first bitcoin exchange to be licensed by the New York State Department of Financial Services, granting the company the ability to be the custodian and exchange for customers in the United States.
The World Alliance of International Financial Centers (WAIFC) is a non-profit financial association based in Brussels, Belgium. Created in Paris in 2018, its goal is to facilitate mutual cooperation by representing the world's major financial centers.
Markets in Crypto-Assets (MiCA) is a regulation in European Union (EU) law. It is intended to help streamline the adoption of blockchain and distributed ledger technology (DLT) as part of virtual asset regulation in the EU, while protecting users and investors. MiCA was approved on 20 April 2023 by the EU Parliament but will not be fully applied until December 2024.
The general notion of cryptocurrencies in Europe denotes the processes of legislative regulation, distribution, circulation, and storage of cryptocurrencies in Europe. In April 2023, the EU Parliament passed the Markets in Crypto Act (MiCA) unified legal framework for crypto-assets within the European Union.
The GIFT International Financial Services Centre is a financial centre and special economic zone in Gujarat International Finance Tec-City covering 106 ha established in April 2015 as a financial hub to provide world-class infrastructure and services for financial institutions and companies operating in areas such as banking, insurance, capital markets, and asset management. GIFT IFSC is regulated by the International Financial Services Centres Authority, an independent regulator exclusive to the zone.
The Galleria at Al Maryah Island is a shopping center on Al Maryah Island, Abu Dhabi in the United Arab Emirates with 2,300,000 square feet (210,000 m2) of gross leasable space. The mall links to The Galleria and combined, they cover over 2.7 million square feet with hundreds of retail, dining and entertainment and leisure-oriented tenants.
Archax, based in London, is the UK's first FCA-regulated digital asset exchange, brokerage, and custodian, and was also the first entry on the FCA's Cryptoasset Register.