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BlackRock's Investment in Crypto-Friendly UAE and License for Operations

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by Giorgi Kostiuk

a year ago

BlackRock, an American multinational investment company, has obtained a commercial license to operate in Abu Dhabi, which was approved on November 18. This move emphasizes the company's interest in the crypto-friendly UAE.

Acquisition of Commercial License

BlackRock has been granted a commercial license to conduct operations in Abu Dhabi, confirming its intent to establish a presence in the UAE.

Focus on Artificial Intelligence

In an interview with Bloomberg, BlackRock's Middle East head Charles Hatami stated that the firm continues to focus on private markets and artificial intelligence infrastructure. This decision aligns with broader AI investments in Abu Dhabi, including Microsoft's $1.6 billion investment in tech firm G42.

Future Plans

While BlackRock has not disclosed further plans for the UAE, the company is considering obtaining a license in the Abu Dhabi Global Market (ADGM). Charles Hatami emphasized Abu Dhabi's significance as a global financial center, highlighting the focus on sustainable growth.

BlackRock is strengthening its presence in the UAE by acquiring a license to operate in Abu Dhabi. The focus on artificial intelligence and consideration of further expansion underscore the region's importance to the company.

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