QCP Capital Abu Dhabi License: ADGM Approval Explained

QCP Capital’s Abu Dhabi licence made the Singapore crypto trading giant the first market maker of its kind to win approval in the emirate — a signal of how aggressively Abu Dhabi’s ADGM is courting institutional digital-asset firms. Here is what it secured and why it matters.

Table of contents

• What QCP was granted
• Why “first” matters
• The scale behind the licence
• Abu Dhabi’s institutional pull in 2026
• FAQ

What QCP Capital was granted

QCP Capital, a leading crypto options and derivatives trading firm, obtained in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) for regulated digital asset activities. The approval was reported on 7 May.

CEO Melvin Deng framed the move as a strategic expansion into a jurisdiction building serious institutional infrastructure for digital assets.

Why “first” matters

QCP became the first Singapore-based crypto market maker and broker to receive preliminary approval in Abu Dhabi. First-movers shape a market: they set the template other firms follow and signal to global players that the jurisdiction is open for serious, regulated business rather than retail speculation.

The scale behind the licence

This was not a small player testing the waters. QCP is known for large-scale crypto derivatives trading and recorded $60 billion in trading volume in 2023. With nearly 70 employees, the firm planned to relocate some staff to Abu Dhabi upon full approval — real economic substance, not a brass-plate presence.

Abu Dhabi’s institutional pull in 2026

QCP’s approval fits a clear pattern: the ADGM, under the FSRA, has become a magnet for institutional crypto firms, alongside Tether and other regulated entrants. By 2026 Abu Dhabi sits beside Dubai’s VARA, the federal SCA and the DIFC’s DFSA as one of the UAE’s coordinated crypto frameworks. For the full map, see our UAE crypto regulation guide.

Frequently asked questions

Who approved QCP Capital?
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), granting in-principle approval.

Why is QCP’s approval notable?
It was the first Singapore-based crypto market maker and broker to receive preliminary approval in Abu Dhabi.

How large is QCP Capital?
It recorded $60 billion in trading volume in 2023 and employs nearly 70 people.

Is ADGM the same as VARA?
No. ADGM is Abu Dhabi’s financial free zone regulated by the FSRA; VARA regulates virtual assets in Dubai.

Sources: ADGM FSRA; Bloomberg; QCP statements (CEO Melvin Deng). Originally reported by Cryptonite; updated with 2026 context. Verify current status with the FSRA.

Disclaimer: General information, not financial or legal advice.

Related UAE regulation coverage

Part of Cryptonite’s UAE regulation series — start with the UAE crypto regulation guide, then read: UAE Central Bank Law and DeFi · Dubai crypto regulation 2025 (VARA 2.0) · RAK Properties accepts crypto.