MidChains
MidChains
Data verified on unchanged since the sources
Worth it if you're an institutional client in the UAE and want an ADGM-licensed exchange with low spot fees (maker 0.1% / taker 0.2%).
Avoid it if you're a retail user or operate outside the UAE: the offering is institutional-only and UAE-focused, with no retail service and not available in Italy.
MidChains is an ADGM-licensed exchange based in Abu Dhabi, positioned as a financial hub for institutional clients in the UAE. Its limitation is its focus: it caters exclusively to institutional users and the UAE market, with no retail offering.
Data & conditions
| Maker / Taker fee | 0.1% / 0.2% |
|---|---|
| Markets | Spot |
| Max leverage | 0× |
| Supported assets | 50+ |
| Trading pairs | 16+ |
| 24h volume | $0 |
| Fiat on-ramp | Yes |
| Deposit methods | Bank wire transfer, Crypto deposit |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | MENA · 2+ countries |
| Regulator | VARA (Dubai) |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | ADGM FSRA UAE ADGM (Abu Dhabi Global Market) |
Strengths
- ADGM license; focus institutional UAE; Abu Dhabi financial hub.
- No notable sovereignty advantage documented.
Weaknesses
- Not retail; UAE focus.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (ADGM (Abu Dhabi Global Market)): reporting to authorities and freezes on order.
Verdict
The ADGM license in Abu Dhabi and its positioning as a financial hub for institutions give MidChains a high-profile regulatory frame, with low 0.2% taker fees. The score stays in the B range, though, because of its extreme focus: the offering targets institutional clients and the UAE market exclusively, with no retail service, which makes it effectively inaccessible and of little relevance to the ordinary user.
MidChains is built for the regulated institutional segment, the exact opposite of the crypto-native ethos: centralized custody, full KYC and an ADGM frame designed for maximum compliance. There is no self-custody, no privacy, no trustless access. Its institutional excellence, which counts on the protection side, moves nothing through this lens.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used MidChains, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
No known incidentSearch across public sources: no known hack, withdrawal freeze or regulatory action as of the verification date.
verified on
FAQ
What are MidChains's fees?
On MidChains, spot fees are maker 0.1% / taker 0.2%. They drop with monthly volume and VIP tier.
Is MidChains regulated in Europe?
Regulatory status of MidChains: ADGM (Abu Dhabi Global Market). Licence: ADGM FSRA UAE (AE).
Does MidChains publish Proof of Reserves?
Proof of Reserves publication is not documented for MidChains. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.
Can I send transfers to third-party IBANs from MidChains?
No, MidChains is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.
Does MidChains support derivatives and futures?
MidChains does not offer derivatives: it focuses on spot trading.
Sources
- Official service page Maker/taker fees · Regulatory framework · Derivatives · Deposit methods · +2 Data verified on Jun 14, 2026
- app.dealroom.co Investors Data verified on Jun 14, 2026
- crunchbase.com Legal name · Company type · Corporate site Data verified on Jun 14, 2026
- laraontheblock.com Proof-of-Reserves · Past incidents Data verified on Jun 14, 2026
Show 2 more sources
- pitchbook.com Latest funding round · Investors Data verified on Jun 14, 2026
- zawya.com Founders Data verified on Jun 13, 2026