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QCP Sets Sights on Middle East Expansion with Abu Dhabi Hub

This move comes amid Abu Dhabi's growing prominence as a hub for institutional crypto activity.

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Singapore-based crypto asset manager and market maker QCP is setting its foot in the Middle East, strategically choosing Abu Dhabi as its launchpad, according to a press release on Thursday.

As part of its expansion plans, QCP will establish an office in Abu Dhabi. This venture is fueled by a partnership with Further Ventures, a local firm specializing in blockchain technology. The collaboration aims to develop innovative digital asset financial products, catering to the burgeoning demand in the region.

Abu Dhabi's progressive regulatory framework for cryptocurrency is a major draw for QCP. The Abu Dhabi Global Market (ADGM), the emirate's financial center, has emerged as the fastest growing financial center in the region. This progressive stance towards crypto positions Abu Dhabi as a fertile ground for the cryptocurrency industry to flourish.

“Increased institutional adoption in digital assets combined with exponential growth of traditional AUM present a compelling and untapped opportunity for QCP to expand in Abu Dhabi, supported by our partnership with Further Ventures," Melvin Deng, CEO of QCP, said.