Deus X & Bridgetower Launches $250M Crypto Platform in UAE

Deus X Capital and Bridgetower Capital are teaming up to introduce a fresh $250 million crypto infrastructure platform tailored for institutional investors in the Middle East. This initiative, known as Bridgetower Middle East, will offer a range of services including crypto staking and investment opportunities.

It will be headquartered in Abu Dhabi Global Market, a free economic zone in the UAE capital, and overseen by Tim Grant and Cory Pugh, the CEOs of Deus X and Bridgetower respectively, as stated in a joint announcement on February 8.

Bridgetower Middle East is set to operate from the Abu Dhabi Global Market, a free zone in the UAE capital. Tim Grant and Cory Pugh, the CEOs of Deus X and Bridgetower respectively, will lead the venture. 

The joint statement released on Feb. 8 outlined the initiative’s goal to build infrastructure catering to the Middle East’s need for turnkey staking and AI GPU computing. 

Deus X & Bridgetower Launches $250M Crypto Platform in UAE

Image Source: Chainalysis (Middle East and North Africa countries ranked by crypto value)

Pugh stated that they will contribute additional significant resources to the newly established organization, supplementing the existing $250 million in self-funded assets. 

Both parties affirmed their dedication to investing in the digital asset ecosystem of the UAE and are open to considering the possibility of listing publicly on the Abu Dhabi Stock Exchange (ADX).

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2024-02-08 11:01