CompaniesGlobal NewsMENA News

Blockdaemon Strengthens UAE Presence, to Establish Office Under ADGM Authority

Blockdaemon Greenlit by ADGM, Paving the Way for UAE Expansion Strategy

Blockdaemon, a leading provider of institutional-grade blockchain infrastructure, has announced its further foray into the United Arab Emirates (UAE).

The company unveiled plans to establish a physical office and formal entity in Abu Dhabi, operating under the guidance of the Registration Authority of Abu Dhabi Global Market (ADGM).

The expansion into the UAE market signifies Blockdaemon’s initiative to offer its cutting-edge Web3 infrastructure solutions locally. This includes making available its node and validator infrastructure solutions, alongside its self-hosted Multi-Party Computation (MPC) wallet technology.

Amor Sexton, the Chief Operating Officer of Blockdaemon, expressed enthusiasm about the company’s expansion efforts in the UAE. He emphasized the significance of this move, stating, “This marks a significant stride for Blockdaemon in boosting its presence in the UAE and deepening our partnership with local regulators and clients.”

The approval from the Registration Authority of ADGM not only solidifies Blockdaemon’s foothold in the region but also highlights its commitment to supporting institutions with reliable blockchain infrastructure. Sexton highlighted the importance of integrity and trustworthiness in their operations, reflecting Blockdaemon’s dedication to operating ethically and responsibly.

Konstantin Richter, CEO and Founder of Blockdaemon, echoed similar sentiments, emphasizing the company’s mission to empower businesses with secure and scalable blockchain infrastructure solutions. He described the milestone as paving the way for greater collaboration and innovation within the UAE’s dynamic blockchain ecosystem.

The Chief of Market Development at ADGM, Arvind Ramamurthy, commended Blockdaemon on its licensing approval, recognizing the company’s decision to establish a presence in Abu Dhabi as a testament to the progressive regulatory environment offered by ADGM. Ramamurthy emphasized the significant potential and demand within the blockchain and Web3 sub-cluster, underscoring ADGM’s role as a pioneer in fostering an ecosystem conducive to the growth of companies like Blockdaemon.

Founded in 2017 by Konstantin Richter, Blockdaemon has been at the forefront of providing institutional-grade infrastructure to blockchain protocols and financial institutions. The company’s expansion into the Asia-Pacific region in 2022 and subsequent ventures into the EMEA region demonstrate its commitment to global growth and innovation.

The recent announcement follows a series of geographic expansions and product innovations by Blockdaemon, including the introduction of the Builder Vault utilizing advanced MPC technology and the launch of Blockdaemon Wallet and Blockdaemon’s Indexed-Data Powered API Suite. These developments underscore Blockdaemon’s continued dedication to advancing blockchain infrastructure and driving industry innovation.

News Desk

UNLOCK Blockchain News Desk is fueled by a passionate team of young individuals deeply immersed in the world of Blockchain and Crypto. Our mission? To keep you, our loyal reader, on the cutting edge of industry news. Drop us a line at info(@) to connect with our team and stay ahead of the curve!

Related Articles

Back to top button