BlackRock, a major asset management company and spot Bitcoin ETF issuer, has been granted a business license to operate in Abu Dhabi, the capital city of the UAE. The UAE is known as a popular hub for cryptocurrencies, although the news did not mention digital assets in relation to BlackRock. Bloomberg commented that the license shows BlackRock’s interest in expanding in cryptocurrency-friendly regions.
BlackRock’s Middle East head, Charles Hatami, mentioned in a statement that the company will be focusing on private markets and artificial intelligence infrastructure. Additionally, BlackRock is seeking to gain an operating license in the Abu Dhabi Global Market (ADGM).