A U.S cryptocurrency firm is ready to set up in the UAE’s capital, Abu Dhabi, and it’s ready to conform to the regulations already in place in the city.

Abu Dhabi is the capital of the United Arab Emirate (UAE) which comprises of 7 emirates. The capital recently developed a regulatory framework, Abu Dhabi Global Market (ADGM), which every company seeking to set up a crypto presence should strictly honor.

The U.S cryptocurrency firm, Seccurency, is expected to request a license from the financial sector of the ADGM. Having an operating license will open up the firm for partnerships with blockchain companies which have a global reach to help scale up Seccurency to the global space.

Seccurency specializes in the tokenized issuance and trading of securities. When it finally launches in Abu Dhabi, the U.S cryptocurrency firm will offer “crypto custodial services and an exchange platform accessing large-scale global liquidity,” reported the Arabian Business.

Launching a fully-regulated exchange for both asset classes via ADGM’s current regulatory framework is the “only way to provide stability, overcome challenges and ultimately, facilitate economic development via investment opportunities, particularly for private equity and institutional investors in this region,” noted John Hensel, Seccurency’s chief operating officer.

The protocol used by the U.S firm is compatible with Ripple, Stellar, EOS, and Ethereum’s blockchain making it easier to transfer tokens on or off-chain.

Although the UAE generally casts digital currencies in a positive light, countries such as Saudi Arabia have recently indicated that, for now, they don’t recognize cryptocurrencies even warning their citizenry against engaging in anything crypto.

Saudi’s restrictions were pegged on the anonymity and market risks associated with virtual currencies among other things.

Since the U.S cryptocurrency firm is ready to set up in the UAE’s capital, do you think the success of cryptos in Abu Dhabi will influence Saudi Arabia to embrace cryptos?

Let us know your thoughts in the comments section below.