Coinspeaker Aptos Foundation Opens Regional Office in Abu Dhabi
The Aptos Foundation, a non-profit organization managing the Aptos blockchain, has announced the opening of its regional office in Abu Dhabi. This move is part of its broader efforts to strengthen its global presence in the Middle East.
According to an official announcement on Wednesday, December 11, the new office, located at the Abu Dhabi Global Market (ADGM), a leading international financial center in the UAE, will act as a hub for the foundation’s activities in the region.
Fostering Partnerships and Supporting Blockchain Projects
The Aptos Foundation plans to use the Abu Dhabi office to secure strategic partnerships and support blockchain projects within the Aptos ecosystem.
According to the nonprofit organization, the decision to establish a regional presence in Abu Dhabi stemmed from the UAE’s progressive approach to blockchain and Web3 adoption. The foundation praised the country’s conducive environment for innovation, supported by government policies that actively promote Web3 initiatives.
The Foundation said the new office will enable it to engage directly with already established industry leaders in the region, creating new opportunities to collaborate and expand the Aptos ecosystem.
“We want to be at the forefront of that movement and help it grow as quickly as possible. This opening provides a unique opportunity for our team to learn from and connect on the ground with cutting-edge builders, institutions, and investors pushing the boundaries every day,” said Bashar Lazaar, Head of Growth and Ecosystems at Aptos Foundation.
A Growing Hub for Blockchain and Crypto
The UAE has steadily positioned itself as a global hub for blockchain and cryptocurrency innovation. On December 10, the financial regulators at ADGM recognized Tether’s USDT as an Accepted Virtual Asset (AVA) in the region, marking it as the first cryptocurrency to achieve legal recognition in the market.
This recognition enables crypto companies operating within ADGM to integrate USDT USDT $1.00 24h volatility: 0.0% Market cap: $138.66 B Vol. 24h: $65.03 B into their businesses, facilitating cross-border payments and other financial services.
In addition, the ADGM has welcomed other crypto companies into its crypto ecosystem. On December 10, Circle Internet Group, the issuer of the USDC stablecoin USDC $1.00 24h volatility: 0.1% Market cap: $40.84 B Vol. 24h: $14.98 B , announced its expansion into Abu Dhabi through a local entity. Circle also partnered with LuLu Financial Holdings and its subsidiaries, one of the region’s largest financial services groups.
This partnership aims to facilitate remittances and cross-border payments using Circle’s fully reserved digital dollar, USDC. By leveraging Circle’s expertise in digital currency solutions, the collaboration is expected to enhance the efficiency and security of financial transactions in the region.
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Aptos Foundation Opens Regional Office in Abu Dhabi
