According to PANews on December 23, the local cryptocurrency company Phoenix Group, which is the first to be listed on the Abu Dhabi Securities Exchange (ADX), recently announced the appointment of a new CEO and plans to achieve a dual listing on Nasdaq in 2025 to further expand its international market and enhance its global influence.
Phoenix Group was established in 2017 and is headquartered in Abu Dhabi, UAE. In October 2023, it successfully listed on the Abu Dhabi Securities Exchange, becoming the first privately-owned cryptocurrency and blockchain entity to be listed on the Middle Eastern stock market.
It is reported that Phoenix Group is the largest cryptocurrency mining operator in the Middle East and North Africa region, focusing on mining, custody, trading, and investment, operating a total of 765 megawatts of mining facilities worldwide.