Blockdaemon, a leading provider of institutional-grade blockchain infrastructure, has announced recently the establishment of a new office and formal entity in Abu Dhabi, United Arab Emirates . This strategic expansion, guided by the Registration Authority of Abu Dhabi Global Market (ADGM), signifies a significant milestone for Blockdaemon as it deepens its presence in the Middle East and North Africa (MENA) region.
Blockdaemon’s Global Mission
Blockdaemon’s mission is to power the blockchain economy by offering robust, institutional-grade infrastructure. The company’s solutions are designed to support a wide range of use cases within the Web3 space. From dedicated nodes to a comprehensive suite of APIs and advanced Multi-Party Computation (MPC) key management technology, Blockdaemon simplifies the complexities of blockchain infrastructure for institutions worldwide.
Innovative Infrastructure Solutions
Blockdaemon has made several strategic acquisitions to enhance its ecosystem, focusing on addressing the common pain points faced by blockchain developers and enterprises. Amor Sexton, the Chief Operating Officer of Blockdaemon, emphasizes the company’s commitment to simplifying blockchain adoption: “Our real focus is on powering the blockchain economy through offering institutional-grade infrastructure. We’ve got a product or a service that can really help power your business.”
The Potential of the MENA Region
The MENA region represents a rapidly growing market for blockchain adoption and innovation. With a diverse mix of blockchain-related activities, from crypto exchanges and custodians to financial institutions exploring the tokenization of real-world assets, the region offers immense opportunities. Sexton highlights the significance of Blockdaemon’s expansion into Abu Dhabi: “Abu Dhabi was an obvious region for us. Even though it’s small, it’s fast-growing, and it’s our entry into the region, making sure that we make our products and services relevant for the local market.”
Choosing ADGM for Expansion
Blockdaemon chose ADGM as its jurisdiction for the UAE presence due to its progressive regulatory environment and a client base that aligns well with Blockdaemon’s focus. According to Sexton: “When we looked at the different regions, Abu Dhabi was the market for us to establish and use as a base for expansion.”
Advanced MPC Wallet Technology
A standout offering from Blockdaemon is its self-hosted MPC wallet technology. This solution allows institutions complete control over their digital assets by deploying the technology on internal cloud infrastructure. Leveraging advanced MPC technology, the wallet meets the specific needs of regulated clients, ensuring secure and compliant digital asset management.
Sustainable and ESG-Friendly Practices
In line with global trends, Blockdaemon places a strong emphasis on Environmental, Social, and Governance (ESG) considerations. Sexton emphasizes the company’s commitment to sustainability: “We work with data center providers that promote sustainability and are conscious of our own environmental impact.”
Future Collaborations and Partnerships
Blockdaemon remains open to strategic partnerships with other infrastructure providers in the UAE. With a global network encompassing over 70 data centers and 10 cloud providers, the company is well-positioned to enhance its service offerings through local collaborations.
Blockdaemon’s expansion into the UAE, underscores the company’s dedication to global growth and innovation in the blockchain industry. With a strategic focus on institutional-grade infrastructure and a strong partnership with ADGM, Blockdaemon is set to play a pivotal role in the burgeoning blockchain landscape of the MENA region. As Abu Dhabi continues to attract major global players in the blockchain and crypto space, Blockdaemon’s presence serves as a testament to the city’s growing prominence as a hub for blockchain innovation.
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