Galaxy Digital Expands Operations in Abu Dhabi
In a strategic move to strengthen its presence in the Middle East, Galaxy Digital has commenced operations in Abu Dhabi, aligning itself with the Abu Dhabi Global Market (ADGM), a prominent international financial hub. This expansion signifies the firm’s commitment to enhancing relationships and extending its reach in regions where there is a notable demand from institutional investors.
CEO’s Insights on the Initiative
Mike Novogratz, the founder and CEO of Galaxy Digital, emphasized that this initiative is a testament to the growing momentum in financial technology and cryptocurrency sectors within the United Arab Emirates. In light of recently favorable regulatory conditions, the UAE has become a beacon for global crypto firms, significantly fast-tracking approvals for major cryptocurrency exchanges and stablecoin issuers. Over the past year, notable platforms like Binance and Bybit have gained market access under local regulations.
Role of the New Office
The new Abu Dhabi office is expected to play a crucial role in supporting Galaxy Digital’s aspiration to become one of the leading investment and infrastructure entities in the digital asset landscape, as explained by Bouchra Darwazah, the managing director at Galaxy. The region, known for its sophisticated investors and innovative financial ecosystem, offers fertile ground for further development.
Financial Performance and Collaborations
In addition to establishing this new office, Galaxy Digital has recently reported impressive financial results for the third quarter of 2025. Furthermore, the firm has taken part in a planned treasury fund for the Solana network, collaborating with notable industry players such as Cantor Fitzgerald and Jump Crypto.
Regulatory Advancements in ADGM
Recent regulatory advancements have allowed ADGM to accept various stablecoin proposals. Notably, a Ripple-backed stablecoin has been authorized for issuance, alongside Tether, which has received recognition as a fiat-referenced token under the same jurisdiction. Licensed institutions are now enabled to engage with Tether across multiple blockchains, including Aptos and Polkadot.
Binance’s Operations Under ADGM Regulation
With Binance asserting its comprehensive approval to run its flagship operations under ADGM regulation, the exchange has structured its services into three separate legal entities. These include an exchange platform, a clearing house, and a broker-dealer, facilitating a variety of regulated crypto activities including trading, custody, and settlement.
