QCP Capital, a cryptocurrency trading company based in Singapore, has formed a strategic partnership with Further Ventures to expand its presence and increase investments in the Middle Eastern market.
QCP Capital, a cryptocurrency trading firm based in Asia, announced a new collaboration with Further Ventures, an investment company supported by Luna and Mastercard. This partnership aims to expand QCP’s reach into the Middle East region as institutional investors in the UAE show growing enthusiasm for crypto investments.
In a recent announcement on crypto.news, QCP and Further Ventures revealed their plans to collaborate and develop innovative financial solutions not only for cryptocurrency trading but also for securely holding digital assets. While the partnership’s particulars have yet to be disclosed, it is evident that QCP aims to broaden its trading offerings in the Asian market, whereas Further Ventures intends to strengthen its market presence through licensed broker-dealer and custodial platforms.
The report states that QCP intends to establish a presence in Abu Dhabi Global Markets, but no specific timeframe for this transition has been disclosed.
According to Melvin Deng, the CEO of QCP Capital, the new collaboration between our companies will foster growth for both parties in Abu Dhabi. This expansion comes at an opportune time as the acceptance of digital assets by institutions is on the rise, and the traditional assets under management are also experiencing significant growth. Together, these trends create an intriguing and untapped market.
Crypto companies have been drawn to Abu Dhabi for quite some time. In February 2023, Hub71, the tech community in the region, unveiled the Hub71+ Digital Assets program, investing $2 billion to foster growth in blockchain startups.
Outside of QCP Capital, other businesses are looking into potential opportunities in the area. According to crypto.news in April 2023, Coinbase was reportedly holding talks with Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) for a regulatory permit. However, no new information has emerged since then about the status of these negotiations. In contrast, Binance opted against pursuing a license in Abu Dhabi, stating their commitment to adhering to global regulatory standards instead.
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2024-04-18 10:03