Chainalysis Establishes Regional Headquarters in Dubai Amid Local Cryptocurrency Surge

Chainalysis, the blockchain data and analytics company, has relocated its regional headquarters to Dubai after working closely with the local government. The company announced on May 8 that it has established its headquarters for Southern Europe, the Middle East, Central Asia, and Africa in Dubai. In its announcement, Chainalysis mentioned its active engagement with local government stakeholders to provide guidance on regulatory development in the crypto industry, promoting innovation. The company has partnered with the United Arab Emirates’ Ministry of Artificial Intelligence, Digital Economy, and Remote Work Applications to establish an excellence center for government employees to enhance their knowledge and skills in blockchain technology. Additionally, Chainalysis has set up a Centre of Excellence to facilitate the upskilling of government employees in blockchain technologies. Two days earlier, on May 6, the company signed a memorandum of understanding with Emirates NBD to support the banking leader’s Digital Asset Lab program. Michael Gronager, CEO of Chainalysis, praised the UAE government for leading the crypto revolution with its crypto-related policies. Chainalysis intends to use its regional headquarters to support emerging markets like India, Africa, and Central Asia. Nicola Buonanno, Vice President of Southern EMEA at Chainalysis, stated that the UAE market is reaching a tipping point, with institutional-sized transfers dominating the country’s crypto activity. Therefore, there is a growing need to investigate the local industry in terms of compliance, market intelligence, and data solutions. Dubai has become a hub for crypto and Web3-related companies, with an increasing number of firms obtaining licenses and establishing a presence in the Middle Eastern technopolis. Binance recently received its long-awaited license to operate as a cryptocurrency exchange in Dubai, while QCP Capital received in-principle approval to offer regulated digital asset activities in Abu Dhabi.