UAE Based Arabian Bourse receives investment from HBK-GoChain
Arabian Bourse (ABX) has received a multi-million dollar investment from HBK-GoChain as well as in-principal approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market as a crypto asset exchange and custodian.
Arabian Bourse (ABX) has received a multi-million dollar investment from HBK-GoChain. a One day prior, GoChain, The Blockchain Company, announced the establishment of a joint venture with HBK Department of Projects (HBK)based in ABuDhabi, to leverage GoChain’s blockchain technology and HBK’s experience in consulting large projects in the MENA, Asia-Pacific region, and the Indian sub-continent. As per the press release the entity, based in the United Arab Emirates, will focus on advancing GoChain’s blockchain technology initiatives in supply chain, e-government, Central Bank Digital Currencies, payments and financial services. The terms of the deal have not been disclosed.HBK-GoChain is a blockchain company that specialises in the supply chain, e-government, Central Bank Digital Currencies, payments and financial services.
This investment comes after Arabian Bourse received in-principal approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market as a crypto asset exchange and custodian in early June of this year.
The partnership between ABX and HBK-GoChain brings together a digital asset market place, a blockchain technology platform and strategic investment. ABX explained that the partnership will act as a bridge, integrating the region’s digital assets activity with other digital asset centres globally. Sheikh Hamad Bin Khalifa Bin Mohammed Al Nahyan, chairman of HBK-GoChain, commented: “In line with the vision of UAE and its leaders we realised the importance of adopting next-generation technologies like blockchain and digital assets. To be actively involved in these businesses and become the industry leader we invested in GoChain and followed up by investing in Arabian Bourse. These investments are very strategic to our group and we believe that Arabian Bourse with its well-experienced founders is best placed to be our partners. As a definitive goal, we would like to replicate this business model in other parts of the world.”
Arshad Khan, co-founder and CEO of Arabian Bourse said: “The strategic investment and partnership with HBK-GoChain is a major step in the development of Arabian Bourse. We are privileged to partner with such reputable regional and global leaders. HBK Group, under the leadership of His Highness Sheikh Hamad Bin Khalifa Bin Mohammed Al Nahyan, has emerged as one of the fastest growing infrastructure businesses in the region and GoChain is one of the most active blockchain companies in the world. Partnering with such institutions emphasises our commitment towards the development of the regional crypto asset industry.”