FSRA issued a licence to the Abu Dhabi-based (UAE) platform M2 to provide services related to virtual assets.
The company obtained a licence for a multilateral trading venue.
By year-end, M2 will provide access to buying, selling and custody of cryptocurrencies for retail and institutional clients.
After launch, the platform will list fiat-paired trading pairs, and broaden its product lineup to include derivatives and yield-generating services.
FSRA began developing rules for digital-asset market participants in 2018.
In November 2022, the regulator’s licence was granted to Binance.