Chainalysis sets up regional headquarters in Dubai amid local crypto boom.
Blockchain data and analytics company Chinalysis has moved its regional headquarters to Dubai following a close collaboration with the local government.
On May 8, the company announced the launch of its Southern Europe, Middle East, Central Asia and Africa headquarters in Dubai.
According to the announcement, the analytics firm is “actively engaging” with local government stakeholders to advise on best practices for regulatory development in the crypto industry, which drives innovation.
Chainalysis is officially in Dubai! After working closely with the 3️⃣ UAE public and private sectors, the opening of our regional headquarters only reinforces our commitment to supporting the UAE crypto ecosystem and furthers our vision of becoming a global crypto hub. pic.twitter.com/1NRG2f4bWX
— Chainalysis (@chainalysis) May 8, 2024
This includes a partnership with the UAE Ministry of Artificial Intelligence, Digital Economy and Remote Work Applications to create a center of excellence for government employees to develop their knowledge and skills in blockchain technology. It has established a center of excellence to help civil servants develop their skills in blockchain technologies.
Two days ago, on May 6, Chainalysis entered into a memorandum of understanding with Emirates NBD, in which it said it would support the bank's leading digital asset lab program.
Chinalysis CEO Michael Gronager opined that the UAE government has “led the crypto revolution” with its crypto-related policies.
“The real potential and value of cryptocurrencies lies in their ability to transfer value, and we're seeing an upward trend in overall transaction activity. “
Cointelegraph reached out to Chainalysis for more information on the development.
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This regional headquarters will allow the company to support emerging markets such as India, Africa and Central Asia. Nicola Buonanno, Vice President of South EMEA Chainalysis, said that the UAE market is at a “tipping point”, with institutional volume transfers “the lion's share” of the country's crypto activity.
Buonanno, therefore, said the need to research the local industry for better compliance, market intelligence and data solutions is “greater than ever.”
Chainalysis is one of the many crypto and Web3 related companies that decided to call Dubai home last year. More and more firms in the industry have been applying for licenses and setting up shop in the Middle East Technopolis.
On April 18, Binance reportedly received the long-awaited license to operate as a cryptocurrency exchange in Dubai.
Recently, on May 7, in Dubai's sister city Abu Dhabi, crypto options desk QCP Capital received the approval of principle to offer regulated digital asset activities in the region.
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