Key Takeaways
- • Matrix has launched what it claims is the first virtual assets trading platform fully compliant with the Abu Dhabi Global Market (ADGM) virtual asset framework.
- • The platform is licensed by the Financial Services Regulatory Authority (FSRA) as a regulated virtual asset multilateral trading facility and custodian.
- • The offering serves both retail and institutional investors, providing a global trading platform and institutional-grade hot and cold storage.
- • Matrix chairman James Wo, who is also founder of Digital Finance Group, cited fiat-to-virtual asset on- and off-ramps as a major source of investor friction.
Summary
Matrix has launched what it claims is the first virtual assets trading platform to be fully compliant with the Abu Dhabi Global Market's (ADGM) virtual asset framework, according to Funds Global MENA. The offering is licensed by the Financial Services Regulatory Authority (FSRA) as a regulated virtual asset multilateral trading facility and custodian.
The platform serves both retail and institutional investors, offering a global trading platform alongside institutional-grade hot and cold storage for digital assets.
The launch aligns with the UAE's broader policy priorities. The country has designated the virtual assets market and blockchain technology as priorities, and in 2018 it launched the Emirates Blockchain Strategy, which aims to migrate 50% of government transactions to blockchain by the end of 2021.
James Wo, chairman of Matrix and founder of Digital Finance Group, said that the lack of fiat-to-virtual asset on and off ramps has been a major source of friction for investors globally. He credited the UAE with instituting regulations favourable to innovation and investment, and thanked the FSRA for its support of the launch.
The platform serves both retail and institutional investors, offering a global trading platform alongside institutional-grade hot and cold storage for digital assets.
The launch aligns with the UAE's broader policy priorities. The country has designated the virtual assets market and blockchain technology as priorities, and in 2018 it launched the Emirates Blockchain Strategy, which aims to migrate 50% of government transactions to blockchain by the end of 2021.
James Wo, chairman of Matrix and founder of Digital Finance Group, said that the lack of fiat-to-virtual asset on and off ramps has been a major source of friction for investors globally. He credited the UAE with instituting regulations favourable to innovation and investment, and thanked the FSRA for its support of the launch.
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