QCP Capital, a leading cryptocurrency trading firm based in Singapore, has announced a strategic partnership with Further Ventures to expand its operations into the Middle East, particularly focusing on Abu Dhabi. This collaboration was unveiled in Dubai and aims to introduce a range of new digital asset financial and derivatives products tailored for institutional investors.
Expanding Footprint in Abu Dhabi
As part of the partnership, QCP Capital plans to establish a new office in Abu Dhabi, enhancing its ability to serve the burgeoning demand for institutional-grade crypto services in the region. Melvin Deng, CEO of QCP, highlighted Abu Dhabi’s progressive regulatory environment as a key factor in their decision, noting that it aligns well with the firm’s vision for a regulated supportive ecosystem for digital assets.
Leveraging Local Advantages
Further Ventures will contribute to this expansion by utilizing its broker-dealer license and custodial platforms to facilitate the sale and management of the new products. This move capitalizes on Abu Dhabi’s growing reputation as a leading crypto hub in the Middle East, supported by the Abu Dhabi Global Market (ADGM), which has seen a 35% growth in assets under management, making it the fastest-growing financial hub in the region.
Institutional Focus and Regulatory Compliance
The focus on institutional investors is underscored by recent trends in the UAE, where large-scale investments dominate the digital assets market. This strategic expansion comes on the heels of similar moves by major players like Coinbase, which recently secured in-principle approval from ADGM’s Financial Services Regulated Activity (FSRA) to offer blockchain-based financial products to institutional clients.
The partnership between QCP Capital and Further Ventures marks a significant step in tapping into the Middle East’s potential as a key player in the global cryptocurrency landscape. By aligning with Abu Dhabi’s advanced regulatory framework and leveraging local financial infrastructure, both firms are poised to make a substantial impact on the institutional digital assets market in the region.
