CryptoNov 11, 2026, 2:29 PM UTC·1 min read

Copper Withdraws ADGM License to Focus on US and Switzerland

Copper has withdrawn its ADGM Financial Services Permission months after announcing approval in principle, and is now prioritizing the US and Switzerland.

Abu Dhabi skyline at dusk representing the ADGM financial free zone that Copper is leaving. — Image: Unlock Blockchain

Copper has withdrawn its Financial Services Permission (FSP) from Abu Dhabi Global Market (ADGM), a move that ends its planned regulated expansion in the emirate only months after it announced an in-principle approval (IPA) for broader digital asset services.

The group says it is now prioritizing two other markets: the United States and Switzerland. The decision effectively shifts the company's regulatory and commercial attention away from the Gulf, at least for now, and toward jurisdictions where it intends to concentrate its resources.

Regional lead departs

The withdrawal comes alongside a leadership change. Charlotte Nedir, Copper's former regional lead, has confirmed that she has left the company. No further details about her departure or about who will oversee the company's Middle East activities were included in the material available.

Why it matters

An IPA is typically an early step in ADGM's licensing process, so pulling out of the application shortly after announcing it signals a notable change in strategy rather than a routine administrative update. For institutional clients and partners in the region who had expected Copper to offer regulated services from Abu Dhabi, the move removes that option for the time being.

It also illustrates how crypto firms are weighing where to build regulated operations. Companies with limited resources must choose which jurisdictions justify the cost and effort of licensing, and Copper has now made clear that the US and Switzerland rank higher on its list than ADGM.

What comes next

Copper has not, in the information available, outlined a timeline for its US and Swiss plans or said whether it could return to ADGM later. Further detail on how the shift will affect existing clients in the region and on the company's regional leadership is still to come.

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Tags:copperadgmabu dhabiswitzerlanddigital assetsregulation