MidChains is Seeking to Launch Crypto Exchange in Abu Dhabi
By Mark Lemon – Cryptocurrency Specialist
MidChains, an upcoming institutional crypto asset trading platform that was founded in 2017, is seeking to launch and operate a cryptocurrency exchange in Abu Dhabi. The platform hopes to offer the major cryptocurrencies to allow institutional investors to buy Ethereum, Bitcoin, Stellar and Ripple, with hopes to list securities and commodities with forex capabilities in the future.
The company is attempting to provide institutional crypto asset trading under the Financial Services Regulatory Authority (FSRA) regulatory framework in Abu Dhabi Global Markets (ADGM). This will make MidChains the first fully regulated exchange to buy XRP or Bitcoin in the area.
The systems MidChains have designed use institutional grade technology reportedly built by veteran electronic financial trading engineers and systems architects to enable practical order types with low-latency. The platform will also feature flexibility on custodianship which could help institutions seeking to make a large Bitcoin purchase as they may not wish to hold the crypto.
The MidChains platform is focusing on providing their robust professional service to high frequency traders, liquidity providers, hedge funds, active asset managers, block traders and brokerages for a sophisticated institutional platform. The platform will only be available to these institutions preventing individuals buying crypto.
MidChains hopes to build a futureproof financial infrastructure to incentivise and attract new and existing investment services firms to conduct business in ADGM.
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