Arabian Business reported the establishment of Bridgetower ME, a joint venture between Bridgetower Capital and Deus X Capital, with a $250 million investment aimed at fostering digital asset infrastructure within the UAE.
New ADGM entity Bridgetower M.E. launches to help UAE enterprises on digital, crypto assets https://t.co/hNiMhhdwkv
— Gulf News (@gulf_news) February 8, 2024
Bridgetower ME Launches to Boost Digital Asset Sector in UAE
“Staying true to our roadmap of global expansion and partnering with top companies, it’s a rare privilege to see Deus X and Bridgetower partner to create Bridgetower ME as one jointly owned, Abu Dhabi entity,” said Bridgetower Chairman and CEO Cory Pugh.
“We have tremendous respect for the UAE business culture and regulatory approach to digital asset infrastructure and look forward to investing resources to both incubate and bring new opportunities to the UAE,” said Pugh.
Based in the Abu Dhabi Global Market (ADGM), Bridgetower Middle East is designed to significantly boost the digital asset sector’s growth within the UAE, as well as throughout the Middle East and the Gulf Cooperation Council (GCC) region.
Offering comprehensive services, Bridgetower Middle East will enable institutional clients to engage in staking activities securely, supporting transactions on major blockchain networks.
Enhancing Blockchain and AI Capabilities
Bridgetower ME also planned to offer advanced AI GPU services for blockchain networks, enhancing computing capabilities for blockchain and AI applications through its specialized data center infrastructure.
In addition, the entity proposed to support the growth of the blockchain ecosystem in the UAE by facilitating private equity investments and the incubation of startups.
The initiative included launching a web3 commerce platform designed to integrate traditional businesses with digital assets. Bridgetower ME intended to establish collaborations with global consumer brands, art markets, and sports organizations, promoting broader adoption of blockchain technology.
“We are delighted to have the opportunity to work with Abu Dhabi to incorporate a company that is solely focused on making the country the global leader in digital assets and fintech,” said Deus X Capital Tim Grant.
“We look forward to Bridgetower ME participation in ADGM’s vision of technological innovation and excellence, and its contribution to positioning Abu Dhabi as a global hub for digital assets,” said Grant.
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