Rorix Holdings’ subsidiary, Finstreet, has gained eight licences for its subsidiary entities to launch the first Digital MTF, central securities depository, private financing platform under one ecosystem.
This "category defining financial market infrastructure, and its combination of activities, makes it the first of its kind to operate across the global markets from Abu Dhabi’s ADGM", it said in a statement on 9 September.
Following direct application of English common law under the regulation and supervision of the FSRA, Finstreet provides a platform for transitioning towards the future of capital markets as they respond to the opportunities presented by new technologies.
Finstreet’s three subsidiaries will be the first regulated, global market infrastructure to offer an end-to-end hybrid traditional and blockchain-powered ecosystem to investors and issuers, covering the full lifecycle of financial assets, including origination, issuance, trading, settlement and custody.
Thani bin Ahmed Al Zeyoudi, executive chairman of Rorix Holdings said: “Today's launch of Finstreet and the granting of its FSP license by ADGM's Financial Services Regulatory Authority is a testament to the UAE's commitment to embracing technological advancement and enabling inclusive global trade. I am certain that Finstreet's digitized trade exchange platform will provide markets with a holistic approach towards international trade and bring a new standard to capital markets on a global scale.”
H.E. Ahmed Jasim Al Zaabi, the chairman of Abu Dhabi Global Market (ADGM) said: “Finstreet’s pioneering initiative embodies ADGM’s unwavering commitment to driving innovation and redefining the future of global finance. By establishing the first regulated digital market for the trading of both public and private securities within our jurisdiction, we are further solidifying Abu Dhabi’s status as a premier global financial hub.
"This launch not only reinforces our strategic vision of positioning Abu Dhabi at the heart of global finance but also propels economic growth and enhances connectivity across the global marketplace."
Ajay Hans Raj Bhatia, chief executive officer of Sirius International Holding and managing director of Finstreet said: "With this initiative, we further our mission to diversify UAE’s economic growth agenda. Finstreet provides a foundation for a new, innovative infrastructure to allow global financial market participants to both realise their own capital raising ambitions and participate in the substantial growth story of UAE-based firms.”
Sunidhi Pasan, chief executive officer of Finstreet Limited added: "By harnessing Finstreet’s innovative infrastructure and deep market knowledge, we are opening up new avenues for investment and trading for issuers and investors both in the region and abroad.”
