Tungsten Custody Receives Regulatory Approval to Provide Custody for Toncoin (TON) in ADGM
March 6, 2025Abu Dhabi, UAE – March 6, 2025 – Tungsten Custody Solutions, a leading regulated digital asset custodian, is pleased to announce that it has received regulatory approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to provide custody for Toncoin (TON). This approval further strengthens Tungsten’s position as a trusted custodian for institutional clients seeking secure and compliant custody solutions for digital assets.
The approval comes at a time when ADGM continues to expand its role as a leading global hub for digital assets, with Toncoin (TON) DLT Foundation recently establishing its base in ADGM. This development highlights Abu Dhabi’s commitment to fostering blockchain innovation while ensuring regulatory clarity and institutional adoption.
Expanding Institutional-Grade Custody for Toncoin (TON)
Toncoin (TON) has gained significant adoption, particularly within Telegram’s ecosystem, as it recently became the exclusive cryptocurrency for non-fiat payments related to the platform’s assets and services. Tungsten’s FSRA-regulated custody ensures institutional investors and enterprises can securely store Toncoin (TON) with institutional-grade security, compliance oversight, and risk management.
Jose Aguinaga, Senior Executive Officer of Tungsten Custody Solutions Ltd, commented:
“Securing regulatory approval to provide custody for Toncoin is a significant milestone for Tungsten and our commitment to offering regulated, institutional-grade custody solutions for a wide range of digital assets. With ADGM emerging as a key hub for blockchain innovation, we are proud to be at the forefront of enabling secure and compliant access to Toncoin for institutional investors and enterprises.”
“We’re thrilled to see Tungsten receive regulatory approval from the Abu Dhabi Global Market to provide secure custody for Toncoin,” said Manuel Stotz, President at TON Foundation. “This approval reflects not only the growing institutional interest in TON, but in blockchain, crypto, and digital assets generally. It also highlights Abu Dhabi’s commitment to building a trusted, clear regulatory framework that supports decentralized organizations and champions blockchain innovation. With their deep expertise and unwavering commitment to compliance, Tungsten is the ideal partner for institutions looking to securely store Toncoin.”
Enhancing Abu Dhabi’s Digital Asset Ecosystem
The approval aligns with ADGM’s growing role as a global leader in virtual asset regulation, ensuring Toncoin (TON) holders have access to secure, regulated custody services. As more blockchain foundations and institutional investors establish their presence in Abu Dhabi, Tungsten remains committed to providing compliant, secure, and scalable custody solutions.
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About Tungsten
Tungsten Custody Solutions Ltd is a regulated digital asset custodian headquartered in Abu Dhabi Global Market (ADGM), offering secure and compliant custody solutions for institutional clients. Tungsten’s infrastructure ensures institutional-grade security, regulatory compliance, and operational resilience.
Tungsten Custody Solutions Ltd is regulated by the ADGM Financial Services Regulatory Authority with Financial Services Permission Number 220129.
For more information, visit tungsten.ae.
About The Open Network (TON)
The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON’s vision is to empower 500 million users to own their digital identity, data, and assets by 2028. Learn more at ton.org
