QCP Capital, a cryptocurrency options trading platform, has received initial approval to operate in Abu Dhabi.
The platform's digital asset options trading desk has obtained provisional approval from the Financial Services Regulatory Authority of Abu Dhabi Global Markets (ADGM), according to a statement released on May 7.
This makes QCP Capital the first Singapore-based company specializing in crypto market making and broker to receive preliminary approval in the region, according to an ADGM spokesperson.
With a trading volume of $60 billion in crypto derivatives in 2023, QCP Capital is one of the largest players in the cryptocurrency options trading market.