Chainalysis sets up Dubai HQ, bolsters UAE’s crypto ambitions

Blockchain analysis company Chainasis announced on Wednesday that it has opened its regional headquarters in Dubai, the most populous city in the United Arab Emirates.

Chainalytics said the establishment of the forensics firm’s Dubai headquarters is a strategic step that underlines the company’s commitment to developing a strong regulatory environment for the crypto industry in collaboration with the UAE government and local financial institutions.

The new office will address Southern Europe, the Middle East, Central Asia and Africa and aim to support the growing crypto markets in these regions.

The move is part of a trend of cryptocurrency and Web3 companies choosing Dubai for its welcoming policies and desire to pioneer digital asset innovation.

Chainalation’s expansion into Dubai follows three years of partnerships with the UAE’s public and private sectors, including collaborations with the Ministry of Artificial Intelligence, Digital Economy and Remote Working Applications, and a memorandum of understanding with Emirates NBD, a state-owned bank.

“The UAE government has led the crypto revolution with forward-looking regulations and business-friendly policies,” said Michael Gronager, CEO of Chainalytics.

“The true potential and value of cryptocurrencies lies in their ability to transfer value, and we are seeing an increasing trend in overall transfer activity. “Useability is the industry’s key success story, and the UAE is in a strong position to lead innovation with new use cases that deliver tangible value to consumers and businesses.”