The digital assets company is one of many to seek regulatory approval from UAE authorities or attempt to expand their services into a region drawing them in.
Galaxy, the digital asset management and infrastructure company, announced an upcoming office and a new arm in Abu Dhabi as part of its push into the Middle East.
In a Wednesday notice, Galaxy said it would establish an entity under the registration authority of the Abu Dhabi Global Market (ADGM), the area’s international financial center. According to Galaxy founder and CEO Mike Novogratz, the move was part of a strategy to expand the company’s existing partnerships and operations.
“The Middle East is a rapidly growing financial hub that is home to some of the world’s most sophisticated investors and innovators,” said Galaxy managing director Bouchra Darwazah. “It has become a particularly influential region for our investors, clients, and portfolio companies, and we believe this office will help establish new opportunities as a leading global digital assets investment and infrastructure firm.”
