Galaxy Digital, a prominent digital asset management and infrastructure company, has announced its strategic expansion into the Middle East with the establishment of a new office and a dedicated arm in Abu Dhabi. This move signifies the company's commitment to growing its presence in the region.
In an announcement made on Wednesday, Galaxy stated that it will establish an entity under the registration authority of the Abu Dhabi Global Market (ADGM), which serves as the area's international financial center. According to Galaxy founder and CEO Mike Novogratz, this expansion is a key component of the company's strategy to broaden its existing partnerships and operations.
"The Middle East is a rapidly growing financial hub that is home to some of the world’s most sophisticated investors and innovators," said Galaxy managing director Bouchra Darwazah. "It has become a particularly influential region for our investors, clients, and portfolio companies, and we believe this office will help establish new opportunities as a leading global digital assets investment and infrastructure firm."
This Middle East initiative follows Galaxy Digital's strong financial performance in the third quarter of 2025, where the company reported a net income of $505 million and equity totaling $3.2 billion. Since 2018, Galaxy has been a significant participant in the cryptocurrency investment landscape, including its planned involvement in a $1.65 billion Solana (SOL) treasury fund alongside Cantor Fitzgerald, Multicoin Capital, and Jump Crypto.
UAE Welcomes Crypto Companies to Middle East Markets
The United Arab Emirates has demonstrated a proactive approach to regulating and attracting cryptocurrency companies looking to establish a foothold in Middle East markets. Over the past year, numerous crypto firms have received regulatory approvals to operate in key financial centers such as Dubai and Abu Dhabi. Notable examples include major exchanges like Binance and Bybit.
The region has also seen success for stablecoin issuers. In November, the ADGM cleared regulated entities to deploy Ripple's stablecoin, Ripple USD (RLUSD). More recently, the financial center recognized Tether's USDt (USDT) as an "accepted fiat-referenced token." Additionally, Circle received regulatory approval to operate as a financial service provider, facilitating the introduction of its USDC (USDC) stablecoin in the UAE.