Galaxy expands to UAE as part of Middle East push

cointelegraph2025-12-10 tarihinde yayınlandı2025-12-10 tarihinde güncellendi

Özet

Galaxy, a digital asset management firm, is expanding into the Middle East by establishing a new office and entity in Abu Dhabi under the Abu Dhabi Global Market (ADGM). The move aims to strengthen existing partnerships and tap into the region's growing financial hub, which is home to sophisticated investors. This expansion follows Galaxy's strong Q3 2025 performance, with $505 million net income and $3.2 billion in equity. The UAE has recently approved several crypto firms, including Binance, Bybit, and stablecoin issuers like Tether and Circle, further solidifying its role as a key market for digital assets.

Galaxy, the digital asset management and infrastructure company, announced an upcoming office and a new arm in Abu Dhabi as part of its push into the Middle East.

In a Wednesday notice, Galaxy said it would establish an entity under the registration authority of the Abu Dhabi Global Market (ADGM), the area’s international financial center. According to Galaxy founder and CEO Mike Novogratz, the move was part of a strategy to expand the company’s existing partnerships and operations.

“The Middle East is a rapidly growing financial hub that is home to some of the world’s most sophisticated investors and innovators,” said Galaxy managing director Bouchra Darwazah. “It has become a particularly influential region for our investors, clients, and portfolio companies, and we believe this office will help establish new opportunities as a leading global digital assets investment and infrastructure firm.”

Source: Galaxy

The Middle East move followed Galaxy reporting a net income of $505 million in the third quarter of 2025, with $3.2 billion in equity. Since 2018, the company has been a major player in staying on top of crypto investments, including its plan to participate in a $1.65 billion Solana (SOL) treasury fund with Cantor Fitzgerald, Multicoin Capital and Jump Crypto.

Related: Tether’s USDt awarded key regulatory status in Abu Dhabi

UAE greenlighted several crypto companies looking to Middle East markets

Over the past year, numerous crypto companies have received regulatory approval to operate in key Middle East markets, including Dubai and Abu Dhabi, such as exchanges Binance and Bybit.

Some stablecoin issuers have had similar success. In November, ADGM cleared regulated companies to deploy Ripple’s stablecoin, Ripple USD (RLUSD). This week, the financial center also recognized Tether’s USDt (USDT) as an “accepted fiat-referenced token” and granted Circle regulatory approval to operate as a financial service provider, paving the way for its USDC (USDC) stablecoin.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

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