Galaxy Digital has opened an Abu Dhabi office under ADGM, deepening its Middle East presence as UAE regulators fast-track major exchanges and stablecoin issuers.
summation
- Galaxy Digital has established a new Abu Dhabi entity under ADGM as part of its strategy to expand its digital asset investments and infrastructure in high-demand institutional markets.
- UAE regulators in Abu Dhabi and Dubai recently approved major exchanges such as Binance and Bybit along with the approval of new stablecoins, including Ripple, Circle and Tether connected products.
- ADGM now recognizes Tether’s fiat reference token across multiple blockchains, allowing licensed companies to conduct regulated activities using USDT in the growing regional crypto hub.
Digital asset company Galaxy Digital has announced the establishment of a new entity in Abu Dhabi as part of its expansion strategy in the Middle East.
Galaxy Digital pivots to Abu Dhabi
The company will operate out of the Abu Dhabi Global Market (ADGM), the United Arab Emirates’ international financial center that is emerging as a hub for cryptocurrency and financial technology companies.
Mike Novogratz, founder and CEO of Galaxy, said the expansion reflects the company’s strategy to deepen partnerships and expand operations across geographies showing strong institutional demand.
This announcement follows Galaxy’s reported strong financial performance for the third quarter of 2025. The company recently participated in the planned Solana treasury fund along with Cantor Fitzgerald, Multicoin Capital and Jump Crypto, according to the company.
Bouchra Darwazah, Managing Director of Galaxy, described the Middle East as a hub of capital, innovation and investor sophistication. Darwazah said the new office will support Galaxy’s goal of establishing itself as a leading global digital asset investment and infrastructure company.
The United Arab Emirates has attracted a number of major cryptocurrency companies in recent months as regulators in Abu Dhabi and Dubai approved additional exchanges and stablecoin issuers.
Both Dubai and Abu Dhabi approved the registration of major global exchanges including Binance and Bybit last year, according to regulatory announcements.
Stablecoin issuers have also secured regulatory approval in the region. ADGM recently allowed regulated companies to issue the Ripple stablecoin, and the financial center recognized the Tether fiat reference token. Circle is authorized to act as a financial services provider in that jurisdiction.
Tether’s stablecoin has secured regulatory approval as a fiat reference token accepted on multiple blockchains within ADGM. The financial center now allows licensed entities to conduct regulated activities related to tokens across Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and TRON. This approval extends to early recognition of tokens on Ethereum, Solana, and Avalanche.
Binance said it has secured full authority to operate its flagship platform under the supervision of ADGM. According to the company, the exchange will operate through three separate entities within the district: an exchange, a clearinghouse and a broker-dealer designed to enable regulated trading, custody, clearing and over-the-counter services.