ABU DHABI: Rorix Holdings’ subsidiary, Finstreet, has announced the granting of eight licenses to its subsidiary entities, enabling the launch of the first Digital Multilateral Trading Facility (MTF), Central Securities Depository (CSD), and Private Financing Platform under a unified ecosystem in Abu Dhabi’s Abu Dhabi Global Market (ADGM).
The initiative marks a pivotal moment in the evolution of capital markets, as Finstreet adopts the principles of English common law under the regulation and supervision of the Financial Services Regulatory Authority (FSRA).
By leveraging advanced technologies, Finstreet is poised to facilitate a seamless transition into the future of capital markets.
Finstreet’s innovative approach encompasses the establishment of three subsidiaries that will serve as the first regulated global market infrastructure.
Redefining global finance
The infrastructure promises an end-to-end hybrid ecosystem that integrates traditional financial mechanisms with blockchain technology. By covering the complete lifecycle of financial assets—including origination, issuance, trading, settlement, and custody—Finstreet is set to redefine the operational framework for investors and issuers alike.
Such a comprehensive offering not only enhances efficiency but also fosters greater transparency and security in financial transactions.
Dr. Thani bin Ahmed Al Zeyoudi, the Executive Chairman of Rorix Holdings, articulated the significance of this launch by emphasising the UAE’s commitment to technological advancement and inclusive global trade.
He remarked, “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.”
The sentiment underscores the UAE’s strategic vision to position itself as a leader in the global financial ecosystem, thereby attracting international investors and fostering economic growth.
H.E. Ahmed Jasim Al Zaabi, the Chairman of ADGM, echoed this sentiment, highlighting Finstreet’s role in driving innovation and redefining the future of global finance.
“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.”
New avenues for investment
The initiative not only enhances Abu Dhabi’s reputation but also propels economic growth and connectivity within the global marketplace.
Ajay Hans Raj Bhatia, the Chief Executive Officer of Sirius International Holding and Managing Director of Finstreet, further articulated the broader implications of this initiative on the UAE’s economic landscape.
“With this initiative, we further our mission to diversify UAE’s economic growth agenda.”
By providing an innovative infrastructure for capital raising, Finstreet aims to support the growth of UAE-based firms while simultaneously attracting global financial market participants.
“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,” Sunidhi Pasan, the Chief Executive Officer of Finstreet Limited, said.
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