Aptos Foundation Establishes Regional Office in Abu Dhabi
The Aptos Foundation, which oversees the Aptos blockchain, has established a regional office in Abu Dhabi to enhance its presence in the Middle East. The office is situated at the Abu Dhabi Global Market (ADGM), an international financial center.
Fostering Partnerships and Supporting Blockchain Projects
The foundation aims to use the Abu Dhabi office to form strategic partnerships and support blockchain initiatives within the Aptos ecosystem. The decision to open this office reflects the UAE's proactive stance on blockchain and Web3 adoption, supported by government policies that encourage innovation.
This new location will facilitate direct engagement with industry leaders in the region, fostering collaboration and expanding the Aptos ecosystem. Bashar Lazaar, Head of Growth and Ecosystems at Aptos Foundation, emphasized the opportunity to connect with innovators and investors in the area.
A Growing Hub for Blockchain and Crypto
The UAE is increasingly recognized as a global center for blockchain and cryptocurrency innovation. On December 10, ADGM designated Tether's USDT as an Accepted Virtual Asset (AVA), marking it as the first cryptocurrency to receive legal recognition in the region.
This designation allows crypto firms within ADGM to incorporate USDT into their operations, enhancing cross-border payment capabilities. Additionally, Circle Internet Group, issuer of the USDC stablecoin, announced its expansion into Abu Dhabi through a local entity, partnering with LuLu Financial Holdings to improve remittances and cross-border payments using USDC. This collaboration aims to increase transaction efficiency and security in the region.