With this expansion, Blockdaemon will now offer institutional-grade node and validator infrastructure solutions, and advanced self-hosted MPC wallet technology, locally in the UAE market.
"This marks a significant stride for Blockdaemon in bolstering its presence in the UAE and deepening our partnership with local regulators and clients," said Amor Sexton, COO of Blockdaemon. "With Blockdaemon receiving approval from the Registration Authority of ADGM, we are not only solidifying our foothold in the region as the leading Web3 infrastructure provider but also affirming our commitment to supporting institutions with blockchain infrastructure. This approval underscores our dedication to operating with integrity and trustworthiness.”
Konstantin Richter, CEO and Founder of Blockdaemon, commented, “As we continue to expand our operations and deepen our partnerships across the globe, this milestone paves the way for greater collaboration and innovation in the UAE's vibrant blockchain ecosystem. We are excited about the opportunities ahead and remain steadfast in our mission to empower businesses and organizations with secure and scalable blockchain infrastructure solutions."
Arvind Ramamurthy, Chief of Market Development at ADGM, said, “We congratulate Blockdaemon on receiving their license from ADGM to establish their presence in Abu Dhabi. The decision of a prominent institutional-grade blockchain infrastructure company to expand in this region with ADGM underscores the progressive regulatory environment offered by our international financial centre, as well as the significant potential and demand within the blockchain and Web3 sub-cluster and associated services. ADGM has been a pioneer in creating an ecosystem conducive to the growth and success of companies like Blockdaemon, and we eagerly anticipate the opportunities they can unlock within this region.”
Blockdaemon was founded in 2017 by Konstantin Richter to bring institutional-grade infrastructure to blockchain protocols, crypto native, and traditional financial institutions. This development follows Blockdaemon’s successful expansion into the Asia-Pacific region in early 2022, and the EMEA region shortly after.
This latest announcement follows significant geographic growth and product innovation at Blockdaemon, with the Builder Vault utilizing our advanced MPC technology in June 2022, Blockdaemon Wallet in April 2023, and Blockdaemon's Indexed-Data Powered API Suite last month.
