KLICKL Gets ADGM In-Principle Approval to Operate as Broker-Dealer and Custody Provider in Virtual Assets

Press release

Published September 5th, 2022 - 06:05 GMT

KLICKL Gets ADGM In-Principle Approval to Operate as Broker-Dealer and Custody Provider in Virtual Assets

During the event

Klickl is the latest global virtual asset service provider to receive the in-principle approval (IPA) of the Financial Services Permission (FSP) from Abu Dhabi Global Market (ADGM) to operate as a broker-dealer and to provide custody in the digital asset place.

We are excited that Klickl obtained an IPA from and will soon be part of the thrilling regulated crypto ecosystem in UAE to expand our product and service offering to the entire MENA region.

Michael Zhao, Co-Founder and CEO at Klickl said “the regulated route is the only route for any crypto company’s growth if it wants to be a serious player for the long run. Long gone are the days where digital asset players enjoy early-mover advantage benefiting from fast growing bull market. Recent crypto market turbulence and big selloff caused by greed-led FOMO driven sentiment is just another example to show why the market needs proper risk control and compliance.”

Klickl has since the start been actively engaging global regulators as part of its ongoing commitment to uphold global standards and collectively foster the developments and sustainable growth of the crypto ecosystem. ADGM is one of the world’s leading virtual asset regulatory jurisdictions in the region. The issuance of the IPA showcases Klickl’s commitment to becoming an all-round virtual asset leader within the Abu Dhabi Global Market.

Formerly known as IDCM, the group recently rebranded to Klickl representing the sound coins make when clicking in harmony and prosperity. As the long-standing digital asset exchange platform that pioneered the notion of Alliance Concept (Exchange as a service), the Klickl group has navigated successfully through bull and bear markets for the past five years.

By focusing on building their ecosystem infrastructure, the new Klickl team is working around the clock to build a new suite of products, with an aim to deliver that All-in One crypto super app which serves all your crypto needs in the ever-evolving digital era.

Background Information

Abu Dhabi Global Market

Abu Dhabi Global Market is a broad-based international financial centre for local, regional and international institutions, established in accordance with the Federal Law No (8) of 2004, Federal Decree No (15) of 2013, Cabinet Resolution No (4) of 2013, and Abu Dhabi Law No (4) of 2013.

ADGM’s three independent authorities – the Registration Authority, the Financial Services Regulatory Authority (FSRA) and ADGM Courts – ensure that our business-friendly environment operates in line with international best practice that are recognised by major financial centres across the world.

In collaboration with other International Financial Centres, global institutions and regulators, Abu Dhabi Global Market develops and supports member institutions with the regulatory framework, legal jurisdiction and attractive business environment they need for sustainable business growth.