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Announcement
Blockdaemon expands presence in Abu Dhabi with established entity under Registration Authority of Abu Dhabi Global Market (ADGM)
ADGM RA 13/05/2024Blockdaemon Greenlit by ADGM, Paving the Way for UAE Expansion Strategy
Blockdaemon, the leading institutional-grade blockchain infrastructure company, announced today it is further expanding its presence in the UAE, including setting up an office and establishing an entity in Abu Dhabi under Registration Authority of Abu Dhabi Global Market (ADGM).
The expansion to operate and provide Web3 infrastructure solutions in the UAE will include making available its node and validator infrastructure solutions locally, as well as their self-hosted MPC wallet technology.
"This marks a significant stride for Blockdaemon in bolstering its presence in the UAE and deepening our partnership with local regulators and clients," said Amor Sexton, COO of Blockdaemon. "With Blockdaemon receiving approval from the Registration Authority of ADGM, we are not only solidifying our foothold in the region as the leading Web3 infrastructure provider but also affirming our commitment to supporting institutions with blockchain infrastructure. This approval underscores our dedication to operating with integrity and trustworthiness.”
Konstantin Richter, CEO and Founder of Blockdaemon commented, “As we continue to expand our operations and deepen our partnerships across the globe, this milestone paves the way for greater collaboration and innovation in the UAE's vibrant blockchain ecosystem. We are excited about the opportunities ahead and remain steadfast in our mission to empower businesses and organizations with secure and scalable blockchain infrastructure solutions."
Arvind Ramamurthy, Chief of Market Development at ADGM said, “We congratulate Blockdaemon on receiving their licensing from ADGM to establish their presence in Abu Dhabi. The decision of a prominent institutional-grade blockchain infrastructure company to expand in this region with ADGM underscores the progressive regulatory environment offered by our international financial centre, as well as the significant potential and demand within the blockchain and Web3 sub-cluster and associated services. ADGM has been a pioneer in creating an ecosystem conducive to the growth and success of companies like Blockdaemon, and we eagerly anticipate the opportunities they can unlock within this region.”
Blockdaemon was founded by Konstantin Richter in 2017, to bring institutional-grade infrastructure to blockchain protocols, crypto native and traditional financial institutions. Blockdaemon expanded into the Asia-Pacific region in February 2022 and shortly thereafter in March 2022, expanded to the EMEA region. This latest announcement follows significant geographic growth and product innovation at Blockdaemon, with the Builder Vault utilizing our advanced MPC technology in June 2022, Blockdaemon Wallet in April 2023 and Blockdaemon's Indexed-Data Powered API Suite last March.