Private equity firms Deus X Capital and Bridgetower Capital are poised to introduce a groundbreaking $250 million crypto infrastructure platform, aimed at offering crypto staking, investment, and other digital asset services tailored for institutional investors in the Middle East.
The newly established entity, Bridgetower Middle East, will be headquartered in the Abu Dhabi Global Market, situated within the United Arab Emirates (UAE) capital. It will be helmed by the CEOs of Deus X and Bridgetower, Tim Grant and Cory Pugh, respectively, as outlined in a joint statement on Feb. 8.
Grant emphasized the initiative’s goal of establishing an infrastructure capable of meeting the increasing demand for turnkey staking and artificial intelligence (AI) graphical processing units (GPUs) computing in the Middle East. He highlighted:
“[Bridgetower ME] will serve as a launchpad to support a wide range of institutional clients who are looking to leverage new technologies in a scalable, compliant and cost-effective manner.”
The platform will house region-based nodes for institutional staking and offer advanced data center capabilities, including AI GPUs, Web3 commerce, and private equity incubation services.
Pugh reiterated the commitment to bolster the UAE’s digital asset ecosystem and explore potential public listing options on the Abu Dhabi Stock Exchange (ADX). He underscored the confidence in the regulatory framework established by regional regulators, which fosters ethical and legal operations.
Deus X, an investment and operating firm launched in October 2023 with an initial asset pool of $1 billion, recently spearheaded a $5.5 million funding round for Web3 gaming firm Saltwater Games. On the other hand, Bridgetower, a digital asset infrastructure provider and private investment equity firm, collaborated with the Solana Foundation in 2021 to establish a $20 million fund aimed at developing the blockchain network in the European Union, the United Kingdom, and Switzerland.
The UAE, comprising Abu Dhabi and Dubai, has positioned itself as a global hub for digital assets, attracting investments and fostering the establishment of international players in the local market.
In November 2023, Paxos, a U.S.-based crypto firm, secured in-principle approval in Abu Dhabi to issue stablecoins and conduct digital asset services. On the same day, Iota announced the launch of a $100 million-backed distributed ledger technology foundation in Abu Dhabi.
Additionally, Saudi Arabia’s NEOM mega-city project partnered with Web3 games developer and investment firm Animoca Brands in October 2023 to develop Web3 enterprise service capabilities.
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