Finstreet, a subsidiary of Rorix Holding, has achieved a significant milestone by securing eight key licenses in Abu Dhabi, enabling the company to launch a range of digital financial platforms. These licenses, granted by the Abu Dhabi Global Market (ADGM), will facilitate the introduction of a digital Multilateral Trading Facility (MTF), a central securities depository, and a private financing platform. Finstreet’s strategic expansion aims to capitalize on Abu Dhabi’s growing prominence as a global financial hub, supported by the regulatory framework of the ADGM.
With the licenses in place, Finstreet’s three subsidiaries will be the first globally regulated entities to provide a comprehensive, hybrid ecosystem that merges traditional finance with blockchain technology. This infrastructure will allow for the complete lifecycle management of financial assets, covering everything from origination and issuance to trading, settlement, and custody. The initiative represents a groundbreaking step toward modernizing financial markets by integrating cutting-edge technology with established market practices.
Comprehensive Financial Asset Management
Finstreet Global Markets Ltd, one of the subsidiaries, will operate as an MTF and offer a secondary trading platform for professional clients. The company’s services will initially focus on securities that have their primary listings on other exchanges. In line with its future strategy, Finstreet envisions expanding its operations to cover a full spectrum of assets, including commodities. This approach aligns with the recent announcement by IHC regarding Rorix Holdings and supports the United Arab Emirates’ Comprehensive Economic Partnership Agreement (CEPA) strategy, which aims to enhance global finance and trade facilitation.
This move reflects the company’s broader ambitions to provide a fully integrated platform that combines traditional financial markets with innovative blockchain technology. The hybrid ecosystem Finstreet is developing will enable investors and issuers to seamlessly engage in financial transactions, benefiting from both the reliability of traditional systems and the transparency and security offered by blockchain.
Supporting UAE’s Technological and Economic Goals
The launch of Finstreet in Abu Dhabi and the granting of its Financial Services Permission (FSP) by the Financial Services Regulatory Authority (FSRA) underscore the UAE’s commitment to embracing technological advancements and fostering inclusive global trade. Dr. Thani bin Ahmed Al Zeyoudi, Executive Chairman of Rorix Holdings, remarked that this development is a testament to the UAE’s forward-thinking approach to technological innovation in the financial sector. He emphasized that Finstreet’s digitized trade exchange platform would offer markets a comprehensive solution for international trade while setting new standards for capital markets worldwide.
Dr. Al Zeyoudi highlighted that the platform will play a crucial role in positioning the UAE at the forefront of global finance, aligning with the country’s strategic objectives of economic diversification and innovation. He expressed confidence in the platform’s potential to provide a holistic approach to trade, enhancing the UAE’s standing in global markets.
Innovation Driving Financial Market Transformation
Finstreet’s initiative also aligns with ADGM’s broader mission to foster innovation and redefine the future of global finance. Ahmed Jasim Al Zaabi, Chairman of ADGM, praised Finstreet’s efforts, noting that the creation of a regulated digital market for trading both public and private securities within the ADGM jurisdiction further solidifies Abu Dhabi’s status as a premier global financial center. He explained that this launch not only enhances the city’s strategic vision but also propels economic growth and connectivity in the international marketplace.
Al Zaabi emphasized that ADGM’s regulatory environment, which directly applies English common law under the supervision of the FSRA, provides a solid foundation for fostering innovation in capital markets. He noted that Finstreet’s initiative reflects ADGM’s commitment to maintaining its leadership role in global financial innovation by offering secure and transparent platforms for modern market participants.
A Platform for Global Financial Growth
Ajay Hans Raj Bhatia, CEO of Sirius International Holding and Managing Director of Finstreet, expressed the importance of this initiative in furthering the UAE’s economic growth agenda. He pointed out that Finstreet’s new infrastructure provides a platform for global financial market participants to achieve their capital-raising ambitions while contributing to the substantial growth of UAE-based firms. Bhatia emphasized that Finstreet’s platform will not only benefit individual firms but also contribute to the broader economic goals of the UAE, driving innovation and diversification in the country’s financial sector.
With its innovative approach, Finstreet is poised to become a key player in the future of global financial markets, offering a unique hybrid ecosystem that blends traditional finance with the latest in blockchain technology. This platform will allow market participants to leverage both the security of blockchain and the established mechanisms of traditional financial markets, ensuring a transparent, efficient, and secure trading environment.
Conclusion: Finstreet’s Vision for the Future of Finance
Finstreet’s entry into the Abu Dhabi market marks a significant development in the evolution of global financial markets. By securing key licenses in ADGM and launching a platform that integrates blockchain with traditional finance, the company is setting new standards for financial asset management and trading. As the UAE continues to prioritize innovation and economic diversification, Finstreet’s initiatives are expected to play a pivotal role in shaping the future of finance, both locally and globally.
This partnership between Finstreet and ADGM highlights the importance of technological advancements in driving economic growth, and the company’s focus on providing end-to-end solutions for financial assets positions it as a leader in the next wave of financial innovation. With the support of regulatory authorities and alignment with national economic strategies, Finstreet is well-positioned to contribute to the transformation of global financial markets.