Galaxy will establish a physical presence in Abu Dhabi, accelerating its expansion in the Middle East market.

Odaily reports that digital asset management and infrastructure company Galaxy has announced it will establish an entity in Abu Dhabi Global Market (ADGM) and plans to open a local office to deepen its business presence in the Middle East.

Galaxy founder and CEO Mike Novogratz stated that this move aims to expand the company's existing partnerships and operational scope. Galaxy Managing Director Bouchra Darwazah pointed out that the Middle East has become one of the world's fastest-growing financial centers, with highly sophisticated investors and innovators, making it a key region for Galaxy's investors, clients, and portfolio companies.

Galaxy reportedly achieved a net profit of $505 million and shareholders' equity of $3.2 billion in the third quarter of 2025, and continues to be active in the crypto investment field, including participating in the $1.65 billion Solana Treasury Fund with Cantor Fitzgerald, Multicoin Capital, and Jump Crypto.

Over the past year, several crypto companies have received regulatory approval in the Middle East to enter the local market, including exchanges such as Binance and Bybit; stablecoin issuers have also continued to receive approval. Recently, Tether's USDT was recognized as a "fiat-pegged token" in Abu Dhabi, and Circle also obtained a financial services license, allowing it to operate the USDC stablecoin locally. (Cointelegraph)