Blockchain infrastructure company Blockdaemon has announced plans to expand its presence in the United Arab Emirates (UAE) with a new office and entity in Abu Dhabi. The company’s expansion was approved by the local Registration Authority of Abu Dhabi Global Market (ADGM). As part of its expansion plans, Blockdaemon will offer Web3 infrastructure solutions locally in the UAE, including its node and validator infrastructure solutions and self-hosted multiparty computation (MPC) wallet technology. Amor Sexton, the company’s COO, sees this move as a significant step forward in establishing a strong presence in the UAE. ADGM’s Chief of Market Development, Arvind Ramamurthy, also expressed support for creating an environment conducive to the growth and success of Web3 companies. Blockdaemon specializes in developing institutional-grade infrastructure for blockchain protocols and financial institutions. The company recently committed to using the Stacks software, a leading Bitcoin layer-2 network with smart contract functionality.
Blockdaemon receives approval to expand into Abu Dhabi in the United Arab Emirates.