As a seasoned crypto investor with a keen eye for market trends and geographical shifts, this news of DWF Labs moving its headquarters to Abu Dhabi piques my interest. Having navigated through the crypto landscape for years, I’ve seen firsthand how jurisdictions can significantly impact a company’s growth and prospects.
According to announcements made by DWF Labs’ founder and CEO, Andrei Grachev, this Web3 venture capitalist and crypto market maker is shifting its main office to Abu Dhabi, United Arab Emirates (UAE). The reason behind this move, as stated by Grachev, is to expand the availability of real-world assets and financial services in the Middle East region. Further details regarding this transition have not been disclosed at this time.
Headquarters in Abu Dhabi and Dubai
It remains uncertain where the proposed Abu Dhabi headquarters of DWF Labs will align within the existing organizational framework, given that their current regional headquarters are located in Singapore, Dubai, and Switzerland, according to their LinkedIn profile.
Abu Dhabi and Dubai are two separate entities within the United Arab Emirates (UAE). Each state has the autonomy to handle non-federal matters on its own, fostering a spirit of competition among them as they vie for the opportunity to host businesses. In a recent post on X, Grachev commented:
“In order to build a strong presence in the Middle East and run more RWA and financial services there, @DWFLabs is moving the headquarter to Abu Dhabi.”
DWF Labs is recognized as a partner within the ecosystem of DMCC’s Crypto Centre, which is part of the Dubai Multi Commodities Centre economic zone. Companies like Bybit, Solana, CV VC, and CryptoMoon are located in close proximity. Binance and Chainalysis also maintain offices within Dubai. All these entities operate under the oversight of the Virtual Assets Regulatory Authority (VARA).
Ripple is located within the Dubai International Financial Centre (DIFC), which enacted regulations for digital assets back in March.
Score one for the ADGM
In Abu Dhabi, the hub for virtual assets is primarily located within the Abu Dhabi Global Market (ADGM) economic zone. This area operates under a legal system modeled after English law and was one of the first to establish regulations for cryptocurrencies back in 2018. By November 2023, they had adopted comprehensive regulations governing distributed ledger technology (DLT), known as the DLT Foundations Regulations.
DWF Labs plans to affiliate with companies like Blockdaemon, M2, Laser Digital, QCP Capital, and BlackRock within the ADGM. Similarly, Solana, currently residing in the DMCC, also maintains ties with the ADGM.
In 2022, DWF Labs emerged as a spin-off from a well-established high-speed trading company. This new venture boasts an impressive investment portfolio ranging from $72 billion to $77 billion, encompassing more than 700 diverse projects.
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2024-12-02 21:38