UK crypto broker, Archax sets up presence in Dubai UAE

UK crypto broker, Archax sets up presence in Dubai UAE

UK crypto broker and custodian, Archax, has set up an entity in the Dubai International Finance Centre (DIFC) in Dubai UAE. The company has set up under an Innovation License.

Recently Archax expanded its presence in the EU and US regions and has an offshore tech center in the Philippines. According to the announcement the new setup in Dubai DIFC will act as a technology hub and the first based for wider expansion in UAE.

Graham Rodford, CEO and co-founder of Archax, commented, “From our core business base and presence in London, it has always been the Archax vision to expand our presence into key regions globally. This started with the establishment of our offshore development arm in the Philippines a few years ago and continued recently with our broker acquisitions in Europe and the US – both subject to a successful regulatory change-of-control process. The UAE region is emerging as a digital asset and crypto hub too, so securing a foothold there with this entity in DIFC is a logical next step for us. We are excited by the technology talent and opportunity that exists in Dubai and now look forward to building and expanding our presence in the region”.

Previously UAE based XDC Network, an enterprise-grade Layer-1 blockchain, launched the first money fund tokens on its platform in collaboration with Archax, the FCA regulated digital asset exchange, broker and custodian.

UAE based XDC network launch money fund tokens with Archax

UAE based XDC network launch money fund tokens with Archax

UAE based XDC Network, an enterprise-grade Layer-1 blockchain, have launched the first money fund tokens on its platform in collaboration with Archax, the FCA regulated digital asset exchange, broker and custodian.

As per the announcement this builds on the previous partnership announcement between XDC and Archax for real-world asset (RWA) tokenization. The first fund tokens that are live represent four of the world’s largest MMFs from providers including abrdn, Fidelity International and State Street, and will be followed by others from the 100+ available through Archax from a variety of asset managers.

Tokenized access to money market funds addresses a growing demand from institutional investors for regulated, digital-first financial products. There are currently $11.5 billion tokenized RWAs on-chain with some projections estimating the value could reach $16 trillion by 2030. By bringing these established investment vehicles onto the blockchain, XDC Network and Archax are creating new opportunities for improved liquidity, faster settlement, and reduced operational costs.

“Providing digital representations of major MMFs opens up a potential new audience for these types of yield-bearing products that historically have been challenging for some to access,” said Keith O’Callaghan, Head of Asset Management and Structuring at Archax. “We’re excited to hit this milestone with XDC Network, a firm that is poised to become one of the railways of the future of the finance industry.”

The implementation leverages XDC Network’s delegated proof-of-stake consensus mechanism, enabling transactions with sub-second finality and near-zero gas fees. The platform’s enterprise-grade infrastructure aims to meet compliance with institutional requirements for security, scalability, and regulatory reporting.

“With our platform’s robust performance and functionality, we have the ideal protocol for real world asset tokenization for institutions who want to work with regulated entities like Archax,” said Angus O’Callaghan, Head of Trading and Markets at XDC Network. “We’re excited to be taking this next step in our partnership with Archax and unlock access to some of the world’s largest MMFs with transparency and efficiency.”

Earlier RAK DAO, the free zone for digital assets companies located in the emirate of Ras Al Khaimah UAE, partnered with XDC Blockchain the accelerator program – Builder’s Oasis with a funding pool of $2 million.