DWF Labs has announced the relocation of its headquarters from Singapore to Abu Dhabi, aiming to expand its operations in real-world assets and financial services in the Middle East.
Headquarters Relocation
DWF Labs has announced the relocation of its headquarters from Singapore to Abu Dhabi. The announcement was made by Andrei Grachev, the co-founder and CEO, via X, focusing on strengthening the company's presence in the Middle East.
Reasons and Goals of the Move
The main goal of the move is to expand operations in real-world assets and financial services. Grachev tweeted: "In order to build a strong presence in the Middle East and run more RWA and financial services there, @DWFLabs is moving the headquarters to Abu Dhabi."
Crypto Industry Growth in the UAE
The UAE, especially Abu Dhabi and Dubai, is emerging as a new hub for crypto and blockchain startups. In Abu Dhabi, the virtual asset sector is focused in the Abu Dhabi Global Market economic zone, which began regulating cryptocurrencies in 2018. ADGM adopted new regulations for Distributed Ledger Technology in 2023.
The relocation of DWF Labs' headquarters to Abu Dhabi signifies a strategic expansion into the Middle East, underscoring the region's growing importance as a hub for crypto and blockchain projects.
