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Three Arrows Capital, a cryptocurrency trading and hedge fund manager, is relocating its offices from Singapore to Dubai, becoming the latest in a rising number of companies wanting to extend their Middle East footprint.
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Interesting Tidbits
- Su Zhu, cofounder of Three Arrows Capital, tweeted a CoinDesk article on Friday, describing the firm’s plan to relocate and said that the atmosphere in Dubai’s digital asset industry right now is electrifying.
- After withdrawing its licensing application in Singapore in December, Binance recently obtained licenses in Dubai, Bahrain, and Abu Dhabi, indicating that a lot of crypto firms are eyeing the Gulf area for expansion.
- While fintech companies such as Revolut were recently granted in-principle licenses, there are still almost 100 other applicants awaiting clearance.
- Singapore’s Monetary Authority has stated that it aims to promote the city-development state as a responsible crypto hub.
- Binance, FTX, Crypto.com, Bybit, and Kraken are among the crypto businesses that have set up shop in the United Arab Emirates.
- Dubai has also received high plaudits from prominent bankers for its potential as a bitcoin hotspot.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
