NASDAQ-Listed DeFi Giant Makes Power Move Into UAE & Middle East Markets

Wall Street meets sand dunes as another crypto player bets on oil money.

The decentralized finance sector just got a desert upgrade—one of NASDAQ's listed DeFi pioneers is planting its flag in the UAE, signaling a major push into Middle Eastern markets. No vague "exploring opportunities" here—this is full-scale expansion mode.

Why the Gulf? Try zero-tax hubs, loose regulations (by banking standards), and governments actually paying attention to blockchain. Unlike Western regulators who still debate whether crypto is a security, commodity, or existential threat.

The move confirms what insiders whisper: institutional money wants exposure to DeFi yields without the SEC knocking. And where better than a region building crypto oases faster than Vegas builds casinos?

One hedge fund manager quipped: "They’ll take your petrodollars before asking about KYC." Ouch.

Growth of digital assets ETP products

Globally, and regionally institutional investors and their capital are entering into the spot Bitcoin and Ethereum exchange-traded funds (ETFs). The UAE is no exception as recently UAE sovereign wealth fund Mubadala announced it expanded its position in BlackRock’s Bitcoin ETF showcasing the latest example of institutions increasingly turning to non-traditional exposures wrapped in an ETF. 

Investors who are interested in crypto but want to utilize traditional financial tools, are gravitating towards Bitcoin ETPs. This month in July 2024, Bitcoin ETFs witnessed strong inflows totaling 18,476 BTC, while Ethereum ETFs recorded 93,427 ETH inflows in the same week, this shows the increased appetite from institutional investors towards crypto wrapped in regulated financial instruments.

Andrew Forson, President of DeFi Technologies and Chief Growth Officer of Valour, stated, “We believe the demand for digital asset ETPs will increase not only globally but in the GCC and Middle East. Investors whether sovereign wealth funds, institutional investors, family offices and even retail investors are interested in crypto but require familiar and efficient vehicles to get exposure.”

He added that when wrapping digital assets such as Bitcoin and Ethereum in regulated financial instruments, it increases the number of crypto investors. He believes this will allow countries such as the UAE, Qatar, Oman and Saudi Arabia to access international foreign investment through locally listed digital asset ETPs, ETFs on the Abu Dhabi Stock Exchange, the Dubai Financial Markets and others.

DeFi Technologies expanded into Turkey and Africa

DeFi Technologies has already expanded into Turkey through a collaboration with Misyon Bank, and Misyon Kripto to introduce ETPs. In Turkey currently over 50% of investor population are holding digital assets. 

In 2024, DeFi Technologies through its subsidiary Valour partnered with GulfCap Investment Bank (“GCIB”), a licensed investment bank as its key Transaction Advisor for the proposed cross-listing of Valour’s ETPs on the Nairobi Securities Exchange (“NSE”) in Kenya.

In Europe DeFi Technologies subsidiary Valour currently offers 65+ fully hedged digital asset ETPs on leading European exchanges including Xetra, Spotlight, and Euronext.

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