Analysis
ADGM's Register Shows 7 Virtual-Asset Firms as Withdrawn, Including Binance (AD) and Kraken's Payward MENA
Which virtual-asset firms ADGM's FSRA register shows as withdrawn, and when.
The short version: ADGM's FSRA register shows 7 firms in the Virtual Assets asset class as withdrawn, 6 of them since the start of 2025 (FSRA, read 22 Oct 2026). They include Binance (AD) Limited (withdrawn 8 December 2025) and Payward MENA Holdings Limited, Kraken's Abu Dhabi company (withdrawn 19 December 2025). The register does not state reasons.
Withdrawn Permissions
| Firm | Virtual-asset activities held | FSP date | Withdrawn | FSP no. |
|---|---|---|---|---|
| BITEXEN CUSTODY LTD | Providing Custody | 18 May 2026 | 17 Sep 2026 | 260044 |
| BITEXEN MENA LTD | Operating a Multilateral Trading Facility | 18 May 2026 | 17 Sep 2026 | 260043 |
| Matrix Limited | Operating a Multilateral Trading Facility, Providing Custody | 20 Apr 2020 | 30 Apr 2026 | 190019 |
| Kraken (Payward)Payward MENA Holdings Limited | Operating a Multilateral Trading Facility, Providing Custody | 12 Dec 2019 | 19 Dec 2025 | 190008 |
| Binance (AD) Limited | Providing Custody | 15 Nov 2022 | 8 Dec 2025 | 220058 |
| LiminalFirst Answer Middle East Limited (Liminal) | Providing Custody | 9 May 2024 | 20 Mar 2025 | 220125 |
| MSX Ltd. | Providing Money Services | 7 Nov 2023 | 6 Nov 2024 | 220118 |
The register lists firms by legal name. Group companies under other names are not matched, so a withdrawal here says nothing about a brand's other ADGM or UAE companies. Kraken's Dubai company Payward FZCO holds a VARA licence: see Kraken.
Sources
- ADGM FSRA Public Register www.adgm.com