The Financial Services Regulatory Authority (FSRA) of Abu Dhabi has given the In-Principle Approval (IPA) to HAYVN. With this IPA, the Over the Counter (OTC) and custody platform-HAYVN can now carry out a digital currency platform in Abu Dhabi Global Market London, Abu Dhabi. The platform announced this news on the 17th of this month. The future plans of the platform on receiving the final regulatory permission are to undertake regulated activities.
The platform is known for offering trustworthy and competitively secure services to its clients. This gives the users of the platform to directly interact and trade cryptocurrencies and assets for fiat currencies from each other. The future plans of the platform on receiving the final regulatory permission are to undertake regulated activities. HAYVN is planning to offer the users great volumes of digital currency which they can purchase or sell off with ease as well as safety. These kinds of transactions can take place between financial institutions, institutional investors, traders, investors, individual traders, and so on.
On this, the Co-Founder of HAYVN – Ahmed Ismail said that it is a matter of ‘honor’ to get the IPA (In-Principle Approval) from the Financial Services Regulatory Authority. He also pointed at the Gulf being the ‘center of finance and innovation’ in his statement, and the success towards getting a green signal to operate in such a place is a matter of delight. He further added that the company plans to raise the caliber standards of the digital currencies and will seek a raised ‘standard for investors.’
On the other hand, Christopher Flinos, also the Co-Founder of the company talked about the potential of the cryptocurrencies of changing the face of the capital markets and how their dynamic nature can offer the investors as well as the traders to have versatile portfolios. He further tied this potential to the importance of bringing the institutional investors on-board. He further added,
However, we believe this can only happen if institutional investors get on board, and they won’t do this until our nascent industry embraces effective regulation and compliance. Institutional investors are looking for partners that can offer safeguards and critically the confidence that the traditional financial eco-system provides. With today’s announcement, we intend to fill this gap, to ultimately provide investors with an effectively regulated and fully compliant platform to buy and sell digital currencies safely, securely, and efficiently.
HAYVN, as a platform, offers safe, transparent, and complaint services to traders, investors, institutional investors, and other organizations. Final approval of this kind of platform who’s vision is to raise the standards of security and transparency with ease of digital crypto trading; should prove to be a piece of good news not only for the platform but also for the entire crypto market. Rest, the Financial Services Regulatory Authority (FSRA) is known for a thorough quality check, which will make sure to grasp the potential of the platform before stamping it all okay. Currently, it is a matter of wait and sees for both the platform and for us.