The Abu Dhabi Financial Services Regulatory Authority (ADSM), Abu Dhabi’s global regulator, has approved the initial approval of the HAYVN platform for crypto-trading.
The HAYVN platform intends to provide OTC services as well as cryptocurrency retention and holding. Cryptocurrencies and paper-currencies will be kept in a guarantor account.
The HAYVN platform targets hedge funds, asset managers and family businesses in the Gulf region. The platform also plans to obtain regulatory approvals from UK regulators.
said Christopher Flinos, co-founder of HAYVN:
“Cryptocurrencies are able to transform investment markets and create a new and exciting portfolio of assets to diversify portfolios”
And he added:
“However, we believe that this will only happen if the institutional investment of the Crypto market is joined, and this will happen if this emerging industry is adopted and laws and regulations are enforced”
Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view