Back
Oobit
Back
Oobit
January 6, 2025
•
2
min read
Singapore, December 31, 2024 – We’re thrilled to announce that we have officially applied for a Financial Services Regulatory Authority (FSRA) license under the Abu Dhabi Global Market (ADGM) framework. This step marks our commitment to expanding into the thriving Middle Eastern market and aligning with a forward-thinking regulatory environment.
ADGM, located in the capital of the United Arab Emirates, Abu Dhabi, is renowned as a leading international financial center. Its progressive regulatory approach, combined with a focus on fostering innovation, has made it a hub for crypto and blockchain enterprises. “Applying for the ADGM license is a monumental step for Oobit. It reinforces our commitment to fostering trust and innovation in the crypto space while paving the way for seamless global adoption,” said Aharon Miller, COO of Oobit.
As part of this expansion, Oobit plans to establish a dedicated office in Abu Dhabi, further cementing our presence in this market and fostering closer collaboration with local stakeholders.
Here are some compelling reasons why ADGM is a key player in the crypto space:
Our application for an ADGM license reflects our vision of creating a seamless and trusted crypto ecosystem. Here’s what it means for our users and the Oobit community:
Oobit’s application for an ADGM license is not just about entering a new market—it’s about aligning with a jurisdiction that shares our vision for the future of finance. ADGM’s initiatives, such as its regulated crypto asset ecosystem and Sandbox program, underscore its role as a leader in integrating traditional finance with blockchain technology.
According to a Chainalysis report, the MENA region is the fastest-growing crypto market in the world. Between July 2023 and June 2024, it accounted for 7.5% of the world’s total transaction volume. ADGM’s regulatory environment has attracted numerous industry players, from leading exchanges to innovative blockchain startups, cementing its reputation as a crypto-friendly hub.
As we await the next steps in our licensing process, we remain committed to keeping our community informed about our progress. This is just one of the many steps Oobit is taking to simplify the use of cryptocurrencies in everyday transactions, thereby transforming the landscape of digital commerce.
Stay tuned for more updates as we continue to chart our path in the dynamic world of crypto. Thank you for being a part of our journey toward building a more inclusive and innovative financial future.
Open your treasury, hold dollars, and start paying the world.
Abre tu tesorería, guarda dólares y empieza a pagarle al mundo.
Abra seu tesouro, guarde dólares e comece a pagar o mundo.
If you're excited by the future of money, we'd love to hear from you.
Scan the QR code to download the app
The People's Money.
Pay with Oobit
Crypto CardLocal QR PaymentsATM WithdrawalsCrypto Cashback Ai PaymentsOobit DePay
Pay with BitcoinPay with OOBPay with USDTPay with EthereumPay with SolanaStablecoin
Oobit For Business
BlogStablecoin PaymentsGlobal USDCorporate CardExpense Managment
Oobit Technologies 2026. © All rights reserved.
Oobit provides technology that enables users to spend digital assets through existing payment networks. Services are subject to regional availability and regulatory requirements. Oobit operates through multiple entities globally. Certain features may be provided by licensed partners depending on your location.
US Cryptocurrency services are provided in partnership with Bakkt Financial Solutions I, LLC. Bakkt is registered with FinCEN as a Money Services Business (MSB) and holds state money transmitter licenses.