Galaxy Digital is opening an office in Abu Dhabi under ADGM, deepening its footprint in the Middle East as UAE regulators accelerate major exchanges and stablecoin issuers.
Summary
- Galaxy Digital has set up a new entity in Abu Dhabi under ADGM as part of its strategy to scale investments in digital assets and infrastructure in high-demand institutional markets.
- UAE regulators in Abu Dhabi and Dubai recently gave the green light to major exchanges such as Binance and Bybit, in addition to new stablecoin approvals including Ripple, Circle and Tether-linked products.
- ADGM now recognizes Tether’s fiat reference token across multiple blockchains, allowing licensed businesses to conduct regulated activities with USDT in a growing regional crypto hub.
Digital asset firm Galaxy Digital has established a new entity in Abu Dhabi as part of its expansion strategy in the Middle East, the company announced.
Galaxy Digital turns towards Abu Dhabi
The company will operate under the Abu Dhabi Global Market (ADGM), the emirate’s international financial centre arose as a hub for cryptocurrency and financial technology companies.
Mike Novogratz, founder and CEO of Galaxy, stated that the expansion reflects the company’s strategy to deepen partnerships and expand operations across regions, demonstrating strong institutional demand.
The announcement follows Galaxy’s reported strong financial performance for the third quarter of 2025. The company recently participated in a planned Solana treasury fund alongside Cantor Fitzgerald, Multicoin Capital and Jump Crypto, the company said.
Bouchra Darwazah, managing director at Galaxy, described the Middle East as a center of capital, innovation and investor sophistication. The new office will support Galaxy’s objective to position itself as a leading global digital asset investment and infrastructure company, Darwazah said.
The United Arab Emirates has attracted numerous major cryptocurrency companies in recent months as regulators in Abu Dhabi and Dubai approved additional exchanges and stablecoin issuers.
Both Dubai and Abu Dhabi have approved registrations for major global exchanges, including Binance and Bybit, in the past year, according to regulatory announcements.
Stablecoin issuers have also received regulatory approvals in the region. ADGM recently allowed regulated companies to issue a Ripple stablecoin, while the financial center recognized a Tether fiat reference token. Circle was approved to operate as a financial services provider in the jurisdiction.
Tether’s stablecoin has received regulatory recognition as an approved fiat reference token for multiple blockchains within ADGM. The financial center now allows authorized institutions to conduct regulated activities regarding the token in Aptos, Celo, Cosmos, Kaia, Near, Polkadot, Tezos, TON and TRON. These approvals expand on previous recognition for the token on Ethereum, Solana, and Avalanche.
Binance announced that it has received full permission to operate its flagship platform under the supervision of ADGM. The exchange will operate through three different legal entities in the zone – an exchange, a clearinghouse and a broker-dealer – designed to enable regulated trading, custody, settlement and off-exchange services, the company said.
