Blockdaemon’s UAE Expansion: Greenlight for Abu Dhabi

Blockchain infrastructure company Blockdaemon has announced its expansion plans into the United Arab Emirates (UAE), with a new office and entity in Abu Dhabi. The company’s expansion was approved by the local Registration Authority of Abu Dhabi Global Market (ADGM) and will involve operating and providing Web3 infrastructure solutions locally. This includes making its node and validator infrastructure solutions and self-hosted MPC wallet technology available in the region. The move is seen as a significant step for Blockdaemon, increasing its presence in the UAE.

ADGM’s chief of market development, Arvind Ramamurthy, expressed optimism about creating an environment conducive to the growth and success of Web3 companies. He highlighted that Blockdaemon’s decision to expand in the region demonstrates the progressive regulatory environment offered by ADGM. This move is seen as unlocking opportunities within the region.

Blockdaemon specializes in developing institutional-grade infrastructure for blockchain protocols and serves both crypto native and traditional financial institutions. The company’s expansion follows previous efforts to establish a presence in specific regions. In February 2022, it expanded into the Asia-Pacific region, followed by its first move into the EMEA region in March.

In September 2021, Blockdaemon achieved unicorn status with a $155 million funding round, valuing the company at approximately $1.255 billion. The company’s senior manager of growth strategy, Barnaby Hodgkins, highlighted the increasing institutional adoption in the blockchain and crypto industries. While there is still room for growth, he acknowledged that it may currently be at its highest point.

On May 5, Blockdaemon joined a group of eight companies committing to using Stacks software, one of the leading Bitcoin layer-2 networks with smart contract functionality. This further showcases the company’s commitment to the blockchain ecosystem and its technological advancements.

Blockdaemon’s expansion into the UAE signifies its determination to establish a strong presence in key global regions. By providing Web3 infrastructure solutions locally, the company aims to support the growth and success of blockchain projects and institutional adoption.

7 thoughts on “Blockdaemon’s UAE Expansion: Greenlight for Abu Dhabi

  1. Blockdaemon’s commitment to providing Web3 infrastructure solutions locally is commendable. I’m confident this move will drive the growth and success of blockchain projects in the UAE.

  2. I highly doubt that Blockdaemon’s expansion into the UAE will have any real impact. It’s just another company trying to make a name for themselves in the crowded blockchain market. 😴

  3. I’m so impressed by Blockdaemon’s continuous efforts to establish a global presence. 🌍 The UAE expansion is another milestone for the company and the blockchain industry as a whole. 🎉

  4. I’m not convinced that Blockdaemon’s expansion into the UAE is going to make any significant impact. There are already so many other blockchain infrastructure companies out there. What makes them different?

  5. The unicorn status achieved by Blockdaemon in September 2021 speaks volumes about their success in the blockchain industry. 🦄 This expansion into the UAE will only add to their achievements. 💪

  6. It’s great to see Blockdaemon expanding and making their node and validator infrastructure solutions available in the UAE! This will definitely boost the development of the blockchain ecosystem in the region.

  7. Blockdaemon’s expansion into the UAE seems like a desperate move to gain attention. I don’t see how it will benefit the blockchain industry or the UAE itself.

Leave a Reply