Bitexen MENA and Bitexen Custody have received Financial Services Permissions from the Financial Services Regulatory Authority of Abu Dhabi Global Market, adding another regulated digital-asset operator to the UAE’s financial infrastructure ecosystem.
ADGM published the announcement on 21 May 2026. The FSRA public register lists Bitexen MENA Ltd with FSP number 260043 and an FSP date of 18 May 2026. The register lists its regulated activity as Operating a Multilateral Trading Facility for Virtual Assets.
The FSRA register separately lists Bitexen Custody Ltd with FSP number 260044 and the same FSP date of 18 May 2026. Its listed regulated activity is Providing Custody for Virtual Assets.
According to the announcement carried on ADGM’s website, Bitexen MENA has permission to operate a multilateral trading facility in relation to virtual assets and fiat-referenced tokens, while Bitexen Custody has permission to provide custody services in relation to the same asset categories. The announcement stated that Bitexen Group has selected ADGM in Abu Dhabi as the operational headquarters for its regulated entities.
ADGM’s digital-assets framework covers business activities involving Virtual Assets, Fiat-Referenced Tokens, Digital Securities, and derivatives and funds of digital assets. The financial centre says entities wishing to carry on such activities in ADGM must apply for an FSRA Financial Services Permission under applicable financial services regulations.
The permissions also sit within a wider ADGM policy path for fiat-referenced tokens. On 31 October 2025, the FSRA said it had finalised amendments to govern regulated activities involving Fiat-Referenced Tokens, with changes taking effect from 1 January 2026. ADGM’s digital-assets page states that authorised persons carrying on regulated activity involving an FRT must use accepted FRTs approved by the FSRA.
Kemal Cenk Erdem, Chairman of Bitexen MENA and Bitexen Custody, said the permissions underscored the group’s long-term commitment to the UAE and wider MENA region. He added that Abu Dhabi would sit at the centre of Bitexen Group’s international expansion as it builds regulated digital-asset infrastructure for global markets.
Significance: For digital-asset firms, custodians, financial institutions and infrastructure providers across MENA, the permissions highlight how Abu Dhabi is continuing to formalise trading, custody and fiat-referenced-token activity through supervised entities rather than informal market access. The development adds to the region’s regulated digital-finance infrastructure at a time when custody, exchange operations, tokenisation and stablecoin-related services are receiving closer supervisory attention.
Sources: ADGM, ADGM FSRA Public Register, ADGM FSRA Public Register, ADGM Digital Assets, ADGM FSRA
