Blockchain and Web3 Company, Sastanaqqam, has relocated its headquarters to Dubai UAE. It will be present at the One Central district in Dubai at the end of March.

One Central has become a pivotal hub for cryptocurrency enterprises, known for its state-of-the-art facility and a business-friendly regulatory environment. This district houses notable crypto entities like Bybit’s global headquarters and the, a hub for cryptographic and blockchain technologies.

Sastanaqqam’s relocation to One Central reflects its alignment with Dubai’s vision as a leader in technological advancement and financial innovation. “Our move to One Central isn’t just a relocation; it’s a strategic decision to integrate with a community at the forefront of blockchain and digital currencies,” said Azzi Mohamed Mbarek, COO of Sastanaqqam.

The decision to establish a base in One Central, alongside pioneering crypto platforms such as Deribit, underscores Sastanaqqam’s ambion to be at the forefront of the crypto revolution. Dubai’s One Central offers an environment ripe for collaboration, innovation, and growth, making it an ideal location for Sastanaqqam’s expansion.

In anticipation of this significant move, Sastanaqqam is ramping up its recruitment efforts, aiming to attract top talent in blockchain and fintech. The new office in One Central will be equipped with the latest technology and designed to foster innovation and collaboration.

Local businesses and the community in One Central are excited about Sastanaqqam’s arrival. “Sastanaqqam’s addion to One Central is not just a boost to our local economy; it also reinforces our status as a leading tech and financial hub,” shared One central business development team.

Established in 2021, Sastanaqqam is a company specializing in blockchain and Web 3.0 technologies, with a focus on integrating art, gaming, and DeFi to create a comprehensive digital ecosystem.

IOTA, distributed ledger built for the “Internet of Everything” , has announced that it is establishing a foundation and another headquarter in Abu Dhabi UAE, as part of their commitment to developing a digital infrastructure and innovation ecosystem in the UAE.  IOTA’s Tangle is an open, feeless and scalable distributed ledger, designed to support frictionless data and value transfer.

The IOTA foundation will  grow IOTA’s reach and importance around the globe. As per IOTA news release, the purpose of this entity is to become one of the primary organizations to foster the growth, adoption, and global expansion of IOTA.

IOTA states, “As we open up a new chapter with IOTA, we need to match technology with the right support to establish IOTA as a global ecosystem. We can only do this by operating out of the right environment. We are convinced that the UAE will offer IOTA the best environment to realize its global ambitions.”

IOTA considers the new entity in Abu Dhabi as an additional headquarter, to further decentralize the governance of IOTA.

The news adds that IOTA is to become one of the leading DLT ( distributed ledger technology) entities in the UAE. The news adds, “ Being established under the new regulatory framework, we intend to work closely with regulators, business leaders, and government entities to further advance the UAE’s global role as a leader in technology and business. This distinction highlights our dedication to embracing robust oversight and well-defined procedures to support and enhance the crypto community within the UAE and worldwide.”

According to Dominik Schiener, Chairman of the IOTA Foundation: ”From the very beginning, we have experienced a very warm welcome and unwavering support from leaders, regulators, and businesses in Abu Dhabi. I am simply amazed at how the country operates and how it is being led by visionary and open-minded leaders. This “can-do” mentality is the perfect environment for us to take IOTA to the next level. We are excited to play a role in helping to establish the UAE as a hub for technology innovations.”

One of its primary objectives of the UAE based IOTA entity will be to provide essential funding and support to the rapidly growing IOTA ecosystem. This commitment aligns with our mission to foster innovation and development within the broader DLT space.

The move doesnt come as a surprise as in May 2023, IOTA executives and UAE governmental leaders had fruitful discussions on IOTA’s role in the UAE digital strategy. 

Holiday Swap,a vacation exchange and booking platform which seeks to enhance its platform utilizing AI ( Artificial Intelligence) and Blockchain, has joined the UAE Ministry of Economy NextGen FDI program, and will be basing its headquarters in the UAE.

The NextGen FDI program  is a  multistakeholder initiative that provides pioneering businesses from around the world with the market-entry fundamentals required to establish and scale their operations in the UAE.

Launched in 2018, Holiday Swap is a community-based platform that connects holidaymakers online, enabling them to swap homes or rent directly from one another at minimal or zero cost. Today, the platform has more than 120,000 listed properties across 185 countries, including the UAE, where it has approximately 1,200 listings. It aims to expand its listings to 400,000 properties by the close of 2023.

The company, which has developed its own proprietary software, has joined the NextGen FDI programme to consolidate its global operations in the UAE. The company will establish its headquarters in Dubai Internet City, supporting 500 jobs in the country within two years, 250 of which will be highly skilled, as it seeks to enhance its platform through advanced technology capabilities such as AI and blockchain.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said, “The onboarding of Holiday Swap reflects the continuing success of the NextGen FDI programme in attracting pioneering companies to the UAE and fostering the development of cutting-edge solutions across a diverse range of economic sectors. The partnership is not only testament to the UAE’s position as a world-class hub for innovation but also the scale and sophistication of its travel and tourism industry, which contributed AED167 billion to the country’s GDP in 2022, a growth of more than 60 percent. We look forward to working with Holiday Swap to unlock new capabilities and adding a new dimension to our travel-related service exports.”

In response to joining the programme, James Asquith, Founder and CEO of Holiday Swap, commented, “We are thrilled to join the Ministry of Economy’s NextGen FDI program, a decision aligned with our commitment to innovation and expansion. Establishing our global operations HQ in Dubai Internet City positions us perfectly to leverage the UAE’s reputation as an international leader and a powerhouse in the travel and tourism industry.

In a recent press release, The Mining Future, a Bitcoin and crypto mining hosting services, has set up its headquarters in the UAE. The reason for this is the regulatory challenges being faced in China, USA, and EU as well as the rising costs. The company is also opening a datacentre in Kuwait.

As per the release, The Mining Future has strategically established its headquarters in the United Arab Emirates (UAE) to capitalize on the country’s ambitious vision to become a global leader in the crypto industry. The UAE’s commitment to fostering crypto-friendly regulations, inviting startups and miners within its jurisdiction, and making significant investments to secure its position as a hub for crypto companies have been instrumental in The Mining Future’s decision to choose the UAE as its base.

“We believe that the UAE’s proactive approach to regulation and its commitment to supporting the growth of the crypto industry aligns perfectly with our vision for The Mining Future,” said a spokesperson of The Mining Future. “By operating from the UAE, we can offer our clients a secure and reliable hosting environment while tapping into the country’s thriving crypto ecosystem.”

In addition to their presence in the UAE, The Mining Future is expanding its operations by opening two new state-of-the-art data centers in the Dominican Republic and in Kuwait. This move reflects the company’s commitment to securing clean energy sources and providing its clients with significantly lower rates than the market average.

The company accepts a minimum order quantity (MOQ) of just one miner, compared to the industry-standard MOQ of >10 miners allowing more individuals to participate in the Bitcoin mining network and contribute to its decentralization.

According to the data provided by the Hashrate Index, bitcoin miners in the UAE should produce approximately 13 EH/s, which is equivalent to 3.7% of the total Bitcoin hash rate at an assumed average energy efficiency of 30 J/TH. This comes as the UAE becomes an attractive hub for crypto mining. 

Marathon Digital Holdings confirmed earlier in 2023 that the company along with Abu Dhabi based Zero Two (Registered name FS Innovation), an emerging blockchain and digital assets infrastructure development company, will be launching the two digital asset mining sites with a combined capacity of 250 Megawatts in the sustainability hub of Abu Dhabi Masdar City and the port zone of Mina Zayed by the end of 2023.

South Korean blockchain companies are establishing their headquarters in the UAE, Neoply a blockchain DeFi solutions provider announced that it will be opening its global headquarters, under the name H Lab in Abu Dhabi UAE with the support of Abu Dhabi Investment Office.

NEOPLY is joining ADIO’s Innovation Programme, which supports the growth of tech-focused industries in the UAE capital. NEOPLY provides a decentralised finance (De-Fi) platform and various services based on blockchain technology. Its global headquarters in Abu Dhabi Global Market (ADGM) will be called H-Lab and benefit from the international financial centre’s advanced regulatory framework and thought leadership in the virtual assets space.

The opening of H-Lab follows discussions between ADIO and Neowiz Holdings, the parent company of NEOPLY, about establishing its blockchain activities wholly from Abu Dhabi and benefiting from ADGM’s robust regulatory framework that enables effective blockchain and digital assets innovation.

Abdulla Abdul Aziz AlShamsi, Director-General of ADIO, stated, “Abu Dhabi’s enabling environment, coupled with the availability of world-class infrastructure and skilled talent, has positioned the UAE capital as a leading destination for investment in the Middle East. NEOPLY joins a wave of other innovative South Korean companies choosing Abu Dhabi as the catalyst for their next growth phase. They are joining a thriving innovation ecosystem and bringing new ideas and solutions to life in the UAE capital.”

Founded in 2018, NEOPLY is the blockchain arm of Neowiz Holdings, a prominent South Korean gaming venture which recently also opened its headquarters in UAE. The company will create specialised jobs in blockchain technology and further add to the sector’s development in the UAE capital and beyond. H-Lab will also work with Abu Dhabi universities to develop programmes and scholarships related to blockchain, Web 3.0, and De-Fi.

Jinho Park, Chief Operating Officer of NEOPLY, stated, “With ADIO’s support, we are establishing our global headquarter in the heart of Abu Dhabi, which fills us with great anticipation for our financial innovation in the Middle East.”

He emphasised, “With the active support of ADIO, the collaboration with ADGM, and the infrastructure of Abu Dhabi, we are committed to setting new standards in the global blockchain industry.”

NEOPLY’s H-Lab will work with ADGM to support its development of a sound and progressive regulatory framework for DeFi, to become one of the first regulated DeFi providers in the world.

The Korean blockchain company is looking to participate in the ADGM’s Digital Lab and collaborate closely with ADGM’s Financial Services Regulatory Authority (FSRA) to build a framework for the DeFi industry that both mitigates risks to consumers and the financial industry and lets new business models develop that can improve consumers’ experiences and outcomes.

The Bahrain Economic Development Board announced that it has welcomed Singapore Based digital asset bank Whampoa Group to Bahrain. Whampoa will be setting up its new digital bank headquarters in Bahrain.

The digital bank, which offers integrated financial solutions to serve institutions, innovators, and sophisticated investors globally, including digital banking services and the trading, custody, and asset management of digital assets, will open its operations in Bahrain by the end of year.

In 2022, Whampoa Group had announced plans to raise $50 million for a crypto hedge fund and had announced plans to set up a venture capital fund to invest in digital assets.

“We are delighted that Whampoa Group intends to set up the headquarters of their new digital bank in Bahrain as they would benefit from Bahrain’s pro-innovation environment and forward-looking regulatory framework. The establishment of these types of institutions is vital to further strengthen the existing digital assets industry and this milestone opportunity directly aligns with Bahrain’s Economic Recovery Plan, which prioritizes digitization across the financial services sector,” Khalid Humaidan, EDB CEO, said.

“We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing secure and innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry. Whampoa is grateful for the support from the Bahrain EDB and the broader Team Bahrain ecosystem throughout the entire process.” Shawn Chan, Group Chief Executive Officer of Whampoa Group commented.