UAE Welcomes $250M Institutional Crypto Platform Expansion
Bridgetower Capital and Deus X Capital have forged a partnership to launch a sophisticated crypto platform in the United Arab Emirates (UAE), targeting institutional investors.
This joint venture, Bridgetower Middle East, based in the Abu Dhabi Global Markets District (ADGM), aims to offer advanced crypto-staking services and a customizable Web3 platform, integrating artificial intelligence solutions.
Their collaboration extends beyond the UAE, with plans to support the digital asset sector across the Gulf Cooperation Council (GCC) territories, including Bahrain, Kuwait, Oman, Qatar, and Saudi Arabia. Bridgetower Middle East is considering listing on the Abu Dhabi stock exchange to fuel further growth.
The UAE government’s proactive stance on digital assets, evident through clear regulatory frameworks in Dubai and ADGM, has positioned the Middle East as an attractive destination for crypto ventures. Despite regulatory challenges, the region’s stability and market potential continue to draw interest from global players like Binance, although their relocation plans have shifted.
READ MORE: Filecoin Protocol Secures $4.5M in Seed Funding for Expansion
Abu Dhabi has emerged as a notable hub for Bitcoin mining, reflecting the region’s growing significance in the crypto space. This trend aligns with a broader regional interest in cryptocurrencies, as evidenced by a recent survey showing increasing adoption and proficiency in managing crypto assets among Middle Eastern respondents.
Saudi Arabia’s prominence in crypto transactions underscores the region’s rapid growth in the global crypto economy. With favorable regulations and a thriving market, the Middle East is poised to play an increasingly influential role in shaping the future of digital assets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
