Galaxy Digital Opens ADGM Office in the UAE to Expand Middle East Reach

Galaxy Digital, the digital asset management and infrastructure company led by billionaire investor Mike Novogratz, has announced a major expansion into the United Arab Emirates (UAE) with the opening of a new office in Abu Dhabi.

The move marks the company’s latest push into the Middle East as global crypto firms increasingly seek regulated environments and institutional demand in the region.

A new base in Abu Dhabi’s financial hub

Galaxy confirmed on December 10 that it will set up a new entity under the Registration Authority of the Abu Dhabi Global Market (ADGM), the UAE capital’s international financial centre.

The office will sit in the heart of ADGM and expand the company’s presence across three continents. Novogratz said the expansion strengthens the firm’s global strategy as demand for regulated digital asset services rises in the region.

“As we continue to expand our operations and deepen our partnerships around the world, this milestone paves the way for greater collaboration and innovation in the UAE,” he said in the announcement.

The new office will be led by Galaxy’s Managing Director Bouchra Darwazah, who will oversee the firm’s regional growth. She said the Middle East has become an important market for the company’s network of investors and clients.

“The Middle East is a rapidly growing financial hub that is home to some of the world’s most sophisticated investors and innovators,” Darwazah said. “It has become a particularly influential region for our investors, clients, and portfolio companies.”

Moreover, ADGM has positioned itself as one of the world’s most active regulatory hubs for digital assets. The jurisdiction offers a clear framework for trading, stablecoins, and blockchain-based financial services, attracting companies seeking long-term stability.

ADGM Chief Development Market Officer Arvind Ramamurthy welcomed Galaxy’s arrival, saying the decision highlights the strength of the region’s ecosystem. “Their decision to establish an office here reflects the strength and appeal of ADGM’s progressive ecosystem, which offers a robust regulatory framework, world-class infrastructure, and a collaborative environment for innovation,” he said.

Galaxy’s growth and investments over time

Galaxy’s Middle East expansion comes shortly after the company reported $505 million in net income for the third quarter of 2025, with $3.2 billion in equity.

Since 2018, the company has played a major role in institutional crypto investing. One of its recent initiatives includes its plan to participate in a $1.65 billion Solana (SOL) treasury fund alongside Cantor Fitzgerald, Multicoin Capital, and Jump Crypto.

Solana, trading at around $129.79, remains one of the assets attracting institutional attention as blockchain activities continue to grow.

Leveraging the current momentum

Galaxy’s move follows a wave of regulatory actions in the UAE as it aims to become a global hub for blockchain and digital assets.

This week, ADGM recognized Tether’s USDt as an “accepted fiat-referenced token,” adding to the region’s expanding list of approved stablecoins. In November, Ripple’s RLUSD also received clearance from ADGM-regulated entities.

Dubai and Abu Dhabi have granted regulatory approval to several global exchanges, including Binance and Bybit, as they expand into the Middle East.

Further, Galaxy’s announcement also follows another major development in the region. On December 9, Circle Internet Group, the issuer of USDC, secured a Financial Services Permission (FSP) license from ADGM’s Financial Services Regulatory Authority (FSRA).

The license allows Circle to expand its payment and settlement services for institutions in the UAE. Circle also recently appointed Dr. Saeeda Jaffar, formerly a senior executive at Visa, as Managing Director for the Middle East and Africa, reinforcing the company’s long-term commitment to the region.

Increasing global influence

The fast rate of regulatory development in the UAE, along with the increasing institutional need, has made Abu Dhabi and Dubai significant entry points to digital asset firms in need of stable structures beyond the United States and Europe.

The entry of Galaxy and licensing of Circle has made the region a target to global companies looking into new markets, regulatory transparency and long term growth opportunities.