As a seasoned analyst with over two decades of experience in the tech industry, I find this move by Aptos Foundation to be a strategic one, particularly given the rapidly growing interest and investment in blockchain technology in the Middle East, and specifically in Abu Dhabi. The UAE’s commitment to fostering a blockchain-friendly environment, coupled with its status as a global hub for innovation, makes it an attractive destination for companies like Aptos.
The Aptos Foundation plans to establish a local office in Abu Dhabi, aiming to cultivate collaborations and assist initiatives that align with the Aptos network’s infrastructure.
The Aptos Foundation, the group responsible for the Aptos (APT) blockchain, is setting up a new location in Abu Dhabi’s Abu Dhabi Global Market, which will be their initial step into the Middle Eastern region, signifying an expansion of their operations there.
On December 11th, the foundation announced in a press statement that this action underscores the UAE’s growing role as a worldwide leader in blockchain technology innovation. Furthermore, they mentioned that the UAE has successfully fostered a setting that draws forward-thinking institutions and pioneers.
The freshly established office will act as a central point for the foundation’s regional endeavors, prioritizing collaborations and initiatives geared towards enhancing the Aptos network. Bashar Lazaar, Director of Growth and Ecosystems at Aptos Foundation, expressed that this office positions them to lead that movement and facilitate its rapid expansion as much as possible.
This beginning offers a special chance for us to gain knowledge and network directly with pioneering developers, establishments, and financiers who are constantly expanding the limits of innovation.
Bashar Lazaar
In simpler terms, ADGM (Abu Dhabi Global Market), known for its supportive stance on blockchain technology, has been successful in luring tech firms by offering a favorable regulatory environment and ecosystem. Aptos isn’t the sole blockchain company setting roots here; other major players such as Binance and Blockdaemon have also extended their operations to Abu Dhabi, further solidifying its standing as a hub for web3 companies.
1) The United Arab Emirates (UAE) is drawing in numerous high-growth developers and international organizations, thanks to programs like the ADGM ecosystem that foster blockchain-oriented businesses. A study published by Coincub and Blockpit in early November found that the UAE remains a favored choice for cryptocurrency investors due to the absence of personal income or capital gains tax on cryptocurrency earnings for individuals. Similarly, Switzerland is often seen as a tax haven because it does not impose personal income or capital gains tax on crypto profits.
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2024-12-11 12:08