Galaxy Expands to UAE as Part of Middle East Push

Galaxy Digital, a prominent global firm specializing in digital assets and data center infrastructure, has officially expanded its operations into the United Arab Emirates (UAE) with the opening of a new office in Abu Dhabi. This strategic move signifies a deepening commitment to the Middle East and a push to capitalize on the region's burgeoning status as a hub for digital asset innovation, artificial intelligence, and advanced computing.

The new office is situated within the Abu Dhabi Global Market (ADGM), an international financial center in Abu Dhabi. This location is expected to enhance Galaxy's ability to provide institutional-grade digital asset trading and infrastructure to clients and investors in the region. Bouchra Darwazah, a Managing Director at Galaxy, will lead the new office, spearheading efforts to expand the company's presence and cultivate regional partnerships.

Michael Novogratz, Founder and CEO of Galaxy, emphasized the UAE's increasing importance in the global financial landscape, noting its alignment with Galaxy's ambitions in the crypto space, AI, and advanced computing. He believes this expansion will foster greater collaboration and innovation in the UAE. Galaxy's expansion into the Middle East also unlocks new opportunities for the company and strengthens ADGM's reputation as a hub for digital asset innovation.

ADGM's progressive regulatory environment and robust infrastructure have attracted numerous global crypto firms, bolstering the UAE's ambitions in the AI and blockchain sectors. Galaxy Digital's decision to establish a presence in ADGM reflects confidence in the region's forward-looking policies and its commitment to creating a thriving ecosystem for digital assets and financial technology. Arvind Ramamurthy, Chief Development Market Officer, welcomed Galaxy Digital to Abu Dhabi, highlighting the strength and appeal of ADGM's ecosystem.

The Middle East is experiencing rapid growth as a financial hub, attracting sophisticated investors and innovators. Galaxy Digital already manages $17 billion in assets in the MENA region and operates 800MW of capacity at its AI/HPC data center campus. The company views the region as a rapidly expanding market for institutional finance and technological innovation and aims to leverage its new ADGM office to meet the rising demand for digital asset infrastructure and AI-driven computing.

This expansion follows Galaxy's earlier investment of $12.2 million in Fuze, a UAE-based company providing digital asset infrastructure. This investment underscores Galaxy's commitment to supporting the growth of the digital asset ecosystem in the Middle East and Turkey.

Galaxy Digital's move into the UAE signifies a broader trend of global digital asset firms gravitating towards jurisdictions with clear regulations, substantial technology investments, and national-scale economic planning. This positions Galaxy to capitalize on the growing opportunities in the region and contribute to the development of its digital asset and AI landscape.