Copper Securities (ME) Limited (CSL), a member of the global Copper Group, announced its intention to expand activities within Abu Dhabi Global Market (ADGM), focusing on Digital Asset custody, collateral management, and settlement solutions subject to regulatory approval by the Financial Services Regulatory Authority (FSRA).
The planned expansion by Copper Group, via its affiliate Copper Securities, highlights the importance of the Abu Dhabi ecosystem as a bridge between traditional financial markets and the digital asset ecosystem.
Pending regulatory approval, CSL aims to broaden its services offering to encompass a “suite of virtual asset and digital security solutions for institutional clients, leveraging the Copper Group’s technology, network and expertise.”
CSL anticipated growth in ADGM will support the evolving “needs of fund managers, trading firms, banks, family offices, and sovereign wealth entities seeking secure access to digital asset markets through collateral and settlement capabilities.”
Amar Kuchinad, Chief Executive Officer of Copper Group, who will be speaking at the ADFW conference, commented that traditional financial institutions are increasingly “entering the crypto asset class and adopting blockchain technology, which is rapidly accelerating the proportion of capital markets that occurs “on-chain.”
Copper is providing these institutions “with two types of solutions: regulated financial services for enterprise owners of blockchain-based assets and web3 technology products to other regulated service providers.”
The Middle East – and ADGM in particular – provides “the clarity and confidence that institutional clients demand. As such, CSL is poised to become a cornerstone of Copper’s global regulated services offering.”
Charlotte Nedir, Senior Executive Officer of CSL, commented that this decision represents a “pivotal step in aligning CSL’s business model with the Copper Group’s global vision.”
The Middle East is now a hub for digital asset innovation and institutional adoption, and ADGM’s regulatory framework “allows firms to support the full spectrum of blockchain-based assets, including crypto, tokenized securities, and tokenized non-securities.”
This multi asset-classes framework is “a critical success factor in bridging traditional financial markets with the digital asset ecosystem.”
They are eager about contributing to the “growth of Abu Dhabi’s ecosystem and introducing Copper’s secure, capital-efficient solutions for custody, settlement, and collateral management to the Middle East.
They look forward to engaging “with the FSRA as we embark on this new chapter for CSL.”
As noted in the update, Copper Securities (ME) Limited is a “private company limited by shares, incorporated in ADGM and part of the Copper Group.”
CSL is currently offering “tokenized money market fund brokerage services under its FSP 200039.”
The company operates for institutional and professional clients and “does not service retail clients.”
Founded in 2018, Copper Group is a provider of digital asset custody, collateral management, and settlement solutions, with “offices in London, Zug, Abu Dhabi, New York and other major financial centers.”
The Copper Group’s MPC custody infrastructure and ClearLoop settlement network serve more than “600 institutional counterparties worldwide.”
The ClearLoop Network is the off-exchange collateral management and settlement solution for digital assets and is reportedly positioned to “serve the region’s demand for digital asset infrastructure.”