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Blockdaemon, a company that specializes in blockchain infrastructure, recently disclosed that it will be expanding its presence in the United Arab Emirates by establishing a new office and corporation in Abu Dhabi.
As part of the expansion plans, the United Arab Emirates will be the location where Web3 infrastructure solutions will be operated and provided. In addition to this, it will be necessary to make its node and validator infrastructure solutions accessible in the region, in addition to its self-hosted machine-proof concept wallet technology.
The move is a “significant stride” for the company, according to Amor Sexton, who is the chief operating officer of Blockdaemon. The company is expanding its footprint in the United Arab Emirates.
Arvind Ramamurthy, who is the chief of market development at ADGM, shared the view and stated that they are attempting to create an atmosphere that is “conducive to the growth and success” of Web3 companies:
“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 center.”
Specifically, Ramamurthy stated that they are looking forward to the prospects that such approvals can “unlock” throughout the region. Blockdaemon is primarily concerned with the development of infrastructure that is suitable for institutional use for blockchain protocols, crypto-native cryptocurrencies, and traditional financial institutions.