Blockdaemon Deepens Roots in UAE, Establishing Entity in Abu Dhabi

Blockdaemon, a leading provider of institutional-grade blockchain infrastructure, announced a significant expansion into the United Arab Emirates (UAE) today. The company plans to set up an office and establish a legal entity in Abu Dhabi under the regulatory umbrella of the Abu Dhabi Global Market (ADGM).

This move signifies Blockdaemon's commitment to the UAE's burgeoning blockchain landscape. By establishing a local presence, Blockdaemon aims to offer its suite of Web3 infrastructure solutions directly to UAE-based clients. These solutions include node and validator infrastructure, along with their self-hosted MPC wallet technology.

"This expansion strengthens Blockdaemon's presence in the UAE and fosters deeper partnerships with local regulators and clients, " said Amor Sexton, Blockdaemon's COO. "Receiving approval from ADGM solidifies our position as the leading Web3 infrastructure provider in the region. It also underscores our dedication to supporting institutions with secure and reliable blockchain infrastructure. "

Konstantin Richter, Blockdaemon's CEO and founder, echoed Sexton's enthusiasm. "As we expand globally and solidify partnerships, this milestone paves the way for increased collaboration and innovation within the UAE's dynamic blockchain ecosystem, " he remarked. "We are thrilled about the prospects ahead and remain committed to empowering businesses and organizations with secure and scalable blockchain infrastructure solutions. "

The decision by a prominent player like Blockdaemon to establish a presence in Abu Dhabi underscores the progressive regulatory environment fostered by the ADGM International Financial Centre. Arvind Ramamurthy, Chief of Market Development at ADGM, congratulated Blockdaemon on receiving their license. He highlighted the company's expansion as a testament to the "significant potential and demand within the Blockchain and Web3 sub-cluster and associated services. " ADGM, Ramamurthy added, "has been a pioneer in creating an ecosystem conducive to the growth and success of companies like Blockdaemon, " and looks forward to the opportunities this collaboration will unlock within the region.

Blockdaemon, founded in 2017 by Konstantin Richter, has a proven track record of providing secure and reliable blockchain infrastructure solutions to crypto-native institutions, traditional financial institutions, and blockchain protocols. The company's expansion into the UAE follows a period of significant geographic growth and product innovation. This includes the launch of the Builder Vault (June 2022), Blockdaemon Wallet (April 2023), and the Blockdaemon's Indexed-Data Powered API Suite (March 2023).