DeFi Technologies has taken a step towards expanding its presence in the GCC and MENA markets by opening new offices in Dubai and offering new financial instruments.
Operations in the GCC and MENA Region
DeFi Technologies has registered DEFI DMCC and opened offices in Jumeirah Lake Towers, Dubai. The company aims to offer digital asset exchange-traded products through its subsidiary Valour, which has also opened a trading desk at the Dubai Multi Commodities Centre (DMCC).
Increasing Interest in Digital Asset ETPs
According to the press release, the DeFi Technologies team and its subsidiary Valour aim to support the growing institutional interest in digital assets in the GCC region, particularly in the UAE. Andrew Forson, President of DeFi Technologies, stated, 'We believe the demand for digital asset ETPs will increase not only globally but in the GCC and Middle East.'
Expansion Strategy into Turkey and Africa
DeFi Technologies has already expanded into Turkey through collaboration with Misyon Bank and Misyon Kripto to introduce ETPs. In 2024, the company is partnering with GulfCap Investment Bank in Kenya for the cross-listing of ETPs on the Nairobi Securities Exchange. Valour is already offering over 65 digital asset ETPs through leading European exchanges.
The expansion of DeFi Technologies into the GCC and MENA region, as well as other countries, reflects the growing interest and openness to digital assets among institutional investors.
