3iQ Wins In-Principle Approval for Abu Dhabi Crypto License
3iQ Middle East Ltd secured Category 4 license approval from Abu Dhabi's IFC, expanding the Canadian firm's digital asset footprint into the UAE.
Canadian digital asset manager 3iQ Corp. announced Monday that its UAE-based affiliate, 3iQ Middle East Ltd, has received in-principle approval for a Category 4 financial services license from Abu Dhabi's International Financial Centre, marking a significant step in the firm's expansion into the Middle East.
The in-principle approval represents a conditional green light from regulators, allowing 3iQ Middle East to advance toward full licensure before commencing regulated operations in Abu Dhabi. Category 4 licenses in the UAE's financial free zones typically cover investment management and advisory activities, though final authorization remains subject to completing the regulator's formal process.
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3iQ, headquartered in Toronto, has positioned itself as one of the earlier institutional-grade entrants into the digital asset fund space in North America. The move into Abu Dhabi reflects a broader industry trend of crypto-focused asset managers targeting Gulf Cooperation Council markets, where regulators have moved aggressively to attract blockchain and digital finance businesses amid global competition for crypto licensing jurisdictions.
The UAE has emerged as a preferred destination for digital asset firms seeking regulatory clarity, with both Abu Dhabi and Dubai having established dedicated virtual asset frameworks in recent years. 3iQ's entry into the market through an IFC approval signals continued institutional appetite for regulated crypto investment products across the region.
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