BlackRock has been granted a commercial license to operate in Abu Dhabi, marking its entry into the UAE's crypto-friendly ecosystem with a focus on artificial intelligence and private markets. Announced on November 18, this approval highlights the firm's interest in expanding in the region. While BlackRock is seeking an additional license in the Abu Dhabi Global Market, it has not specifically mentioned plans related to digital assets. Charles Hatami, BlackRock's Middle East head, emphasized the company's commitment to AI infrastructure, echoing broader investments in AI within Abu Dhabi. Notably, Microsoft has also invested in AI development in the region. Hatami praised Abu Dhabi's proactive government policy and strategic location for capital markets, identifying it as a global financial center. BlackRock is also the issuer of the iShares Bitcoin Trust ETF, which provides U.S.-based investors exposure to Bitcoin. The UAE continues to establish itself as a leader in digital finance, aiming for steady growth in this sector.

Source 🔗