Galaxy Digital opens Abu Dhabi office as Middle East push accelerates

UAE telecommunications company e& has initiated a pilot program utilizing AE Coin, a dirham-pegged stablecoin, for bill payments, marking a significant step towards integrating stablecoin payments into everyday transactions in the UAE. This move reflects the company's exploration of innovative digital payment solutions.

Irina Volk, spokesperson for Russia’s MVD, confirmed the deportation of the founder of the Finiko crypto pyramid scheme from the UAE to Russia, where he faces allegations of large-scale fraud. This transfer occurred at Dubai Airport, marking a significant step in the legal proceedings against him.

Galaxy, a digital assets company, is expanding its operations to the UAE as part of its strategic push into the Middle East, seeking regulatory approval from local authorities to enhance its service offerings in a rapidly evolving market.

Michael Saylor, founder of Strategy, delivered a keynote at the Bitcoin MENA 2025 conference in Abu Dhabi, asserting that Bitcoin will drive a digital credit revolution in the Middle East. He emphasized Bitcoin's potential to transform financial systems and proposed a Bitcoin-backed banking model for nation-states to enhance yield opportunities.

Galaxy Digital has opened a new office in Abu Dhabi, marking a significant step in its expansion strategy within the UAE, aimed at bolstering its presence in the rapidly evolving digital asset landscape. This move is part of a broader initiative to enhance service offerings and foster innovation in the region.

At the Bitcoin MENA 2025 conference in Abu Dhabi, Michael Saylor announced that major US banks are transitioning from excluding Bitcoin to actively developing products based on it, indicating a significant shift in the financial landscape. Saylor noted that these banks are now approaching him directly for collaboration.

Ripple has successfully raised $500 million in a funding round led by major Wall Street firms, including Citadel Securities and Fortress Investment Group, resulting in a valuation of approximately $40 billion. This investment is seen as a significant indicator of traditional finance's growing interest in the XRP ecosystem.

Mubadala Capital has partnered with Kaio to explore tokenized access to private market strategies, reflecting a growing interest in integrating blockchain technology with traditional investment avenues in Abu Dhabi. This initiative highlights the increasing acceptance of on-chain real-world assets within the financial sector.