May 13, 2024
Latest Cryptocurrency News

Blockdaemon Expands Presence in UAE with Abu Dhabi Office

Blockchain infrastructure firm Blockdaemon has announced plans to bolster its presence in the United Arab Emirates (UAE) by establishing a new office and entity in Abu Dhabi.

This expansion was approved by the local Registration Authority of Abu Dhabi Global Market (ADGM). It signals Blockdaemon’s commitment to the region’s burgeoning blockchain ecosystem.

BlockDaemon Fostering Web3 Solutions Locally

Blockdaemon’s expansion in the UAE aims to offer Web3 infrastructure solutions tailored to the local market. This initiative includes providing node and validator infrastructure solutions, along with self-hosted MPC wallet technology, to support the growing demand for blockchain services in the region.

Amor Sexton, Blockdaemon’s Chief Operating Officer, views this expansion as a significant step forward in bolstering the company’s footprint in the UAE. The move aligns with Blockdaemon’s mission to develop institutional-grade infrastructure for blockchain protocols and financial institutions.

ADGM’s Support for Blockchain Innovation

Arvind Ramamurthy, Chief of Market Development at ADGM, lauds Blockdaemon’s decision to expand its operations in the region. He emphasizes the supportive regulatory environment offered by ADGM.

Moreover, Ramamurthy underscores ADGM’s commitment to fostering an ecosystem conducive to the growth and success of Web3 companies. It highlights the potential opportunities such approvals can unlock within the region.

Furthermore, Blockdaemon’s expansion in Abu Dhabi follows its strategic efforts to establish a global presence. With previous expansions into the Asia-Pacific and EMEA regions, Blockdaemon continues to solidify its position as a leading provider of blockchain infrastructure solutions worldwide.

To sum up, the company’s recent commitment to utilizing Stacks software demonstrates its dedication to advancing blockchain technology. Above all, it will foster innovation within the crypto industry. As institutional adoption of blockchain and crypto reaches new heights, companies like Blockdaemon play a crucial role in driving industry growth and development.

Image from Wikimedia Commons

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