DeFi Technologies, a financial technology company bridging the gap between traditional capital markets and decentralized finance, has expanded its operation into the GCC and MENA region.
The registration of DEFI DMCC includes offices in Jumeirah Lake Towers, Dubai, as the company seeks to offer digital asset exchange-traded products (ETPs) through its subsidiary, Valour, which has also opened a trading desk at the Dubai Multi Commodities Centre (DMCC) in the UAE.
As per the press release, the DeFi Technologies team and its subsidiary Valour, aim to support the increased institutional interest in digital assets in the GCC region and specifically in the UAE.
As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy. This includes Valour, which offers access to more than 65 of the world’s most innovative digital assets via regulated ETPs with plans to offer 100 by the end of 2025. Â
Growth of digital assets ETP products
Globally, and regionally institutional investors and their capital are entering into the spot Bitcoin and Ethereum exchange-traded funds (ETFs). The UAE is no exception as recently UAE sovereign wealth fund Mubadala announced it expanded its position in BlackRock’s Bitcoin ETF showcasing the latest example of institutions increasingly turning to non-traditional exposures wrapped in an ETF.Â
Investors who are interested in crypto but want to utilize traditional financial tools, are gravitating towards Bitcoin ETPs. This month in July 2024, Bitcoin ETFs witnessed strong inflows totaling 18,476 BTC, while Ethereum ETFs recorded 93,427 ETH inflows in the same week, this shows the increased appetite from institutional investors towards crypto wrapped in regulated financial instruments.
Andrew Forson, President of DeFi Technologies and Chief Growth Officer of Valour, stated, “We believe the demand for digital asset ETPs will increase not only globally but in the GCC and Middle East. Investors whether sovereign wealth funds, institutional investors, family offices and even retail investors are interested in crypto but require familiar and efficient vehicles to get exposure.”
He added that when wrapping digital assets such as Bitcoin and Ethereum in regulated financial instruments, it increases the number of crypto investors. He believes this will allow countries such as the UAE, Qatar, Oman and Saudi Arabia to access international foreign investment through locally listed digital asset ETPs, ETFs on the Abu Dhabi Stock Exchange, the Dubai Financial Markets and others.
DeFi Technologies expanded into Turkey and Africa
DeFi Technologies has already expanded into Turkey through a collaboration with Misyon Bank, and Misyon Kripto to introduce ETPs. In Turkey currently over 50% of investor population are holding digital assets.Â
In 2024, DeFi Technologies through its subsidiary Valour partnered with GulfCap Investment Bank (“GCIB”), a licensed investment bank as its key Transaction Advisor for the proposed cross-listing of Valour’s ETPs on the Nairobi Securities Exchange (“NSE”) in Kenya.
In Europe DeFi Technologies subsidiary Valour currently offers 65+ fully hedged digital asset ETPs on leading European exchanges including Xetra, Spotlight, and Euronext.
