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Deus X And Bridgetower $250M Crypto Venture Launch
Private equity giants Deus X Capital and Bridgetower Capital have announced a partnership to launch a $250 million crypto infrastructure platform, Bridgetower Middle East. This landmark initiative will likely revolutionize institutional investment options in the Middle East, bringing forth a comprehensive suite of crypto investment options to the region’s investors.
Headquartered in the Abu Dhabi Global Market, a renowned free economic zone within the capital of the United Arab Emirates, Bridgetower Middle East caters to the region’s burgeoning demand for cutting-edge financial solutions.
It is spearheaded by industry top names Tim Grant, CEO of Deus X, and Cory Pugh, CEO of Bridgetower. While speaking during a recent interview, Grant emphasized that Bridgetower Middle East (ME) addresses the increasing need for comprehensive staking solutions in the Middle East. Grant added that Bridgetower ME would function as a platform to assist various institutional clients in effectively utilizing new technologies in a scalable, compliant, and economically viable way.
A Catalyst For Institutional Adoption Of Crypto And AI
The strategic vision of Bridgetower Middle East extends beyond traditional investing paradigms. It also plans to host nodes in-region for institutional staking and provide cutting-edge data center capabilities with Web3 commerce solutions, AI GPUs, and private equity incubation services.
Pugh echoed Grant’s sentiments, adding that the partners will bring substantial assets to the newly formed entity in addition to the self-funded $250 million in assets under depository. Pugh lauded the regulatory framework established by regional regulators, citing it as a catalyst for fostering trust and confidence from market participants.
Pugh noted that the two partners are confident that this regional regulator has established a robust framework for businesses operating with the utmost ethical and legal standards. Furthermore, Deus X and Bridgetower affirmed their interest in exploring opportunities for publicly listing the new firm on the Abu Dhabi Stock Exchange (ADX).
The inception of Bridgetower Middle East is rooted in the distinguished history of Deus X and Bridgetower, renowned for their pioneering efforts in the digital asset realm. Deus X, an expert investment and operational entity, gained widespread attention in October 2023 with the launch of its operations, followed by a $5.5 million funding round for Saltwater Games, another prominent player in the Web3 gaming sector.
Like DeusX, Bridgetower solidified its presence in the digital asset infrastructure domain by forging strategic alliances, notably its collaboration with the Solana Foundation in 2021. This collaboration resulted in establishing a $20 million fund dedicated to advancing blockchain development across the United Kingdom, the European Union, and Switzerland.
UAE As A Top Digital Asset Hub Globally
The UAE, encompassing Abu Dhabi and Dubai, has positioned itself as a global leader in the digital asset landscape, drawing significant investments and attracting international players to leverage its favorable regulatory policies.
Recent achievements highlight the region’s steadfast dedication to nurturing innovation and propelling digital evolution. An instance is introducing a distributed ledger technology foundation backed by $100 million by open-source blockchain developer Iota.
Also, the collaboration between Saudi Arabia’s NEOM and Web3 games developer Animoca Brands shows the region’s continuous interest in technological advancement.
dYdX Chain Launches Liquid Staking
Meanwhile, the dYdX Chain has unveiled its much-anticipated liquid staking feature, marking a crucial moment in the evolution of decentralized finance (DeFi). Liquid staking incentivizes users to stake their assets on the dYdX Chain.
Thereby, they contribute to the network’s security and efficiency while earning rewards. Beyond engagement, this innovative approach also strengthens the overall resilience of the ecosystem. Nevertheless, dYdX plans to expand its liquid staking options, giving users more flexibility in securing their stakes.
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