Blockdaemon Expands into UAE with Abu Dhabi Office to Drive Web3 Growth

Blockchain infrastructure firm Blockdaemon has received approval for expanding its operations in the United Arab Emirates (UAE) with a new office in Abu Dhabi. The expansion plans were authorised by the local Registration Authority of Abu Dhabi Global Market (ADGM). Blockdaemon aims to offer Web3 infrastructure solutions locally in the UAE, including node and validator infrastructure solutions, along with self-hosted multiparty computation (MPC) wallet technology. Amor Sexton, the company's chief operating officer, sees this move as a significant step forward, aligning strategically with the region's growth dynamics. ADGM's Chief of Market Development, Arvind Ramamurthy, highlighted the progressive regulatory environment offered by the international financial centre, emphasising the potential opportunities this expansion could unlock within the region. Blockdaemon, known for developing institutional-grade blockchain infrastructure, has been gradually expanding its presence in various regions, including Asia-Pacific and Europe, Middle East, and Asia. The company achieved unicorn status in September 2021 with a $155-million raise, reflecting its growing valuation and market significance.