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Abu Dhabi Crypto Hub ADFW 2022

by S. Jack Heffernan Ph.D
Abu Dhabi Crypto Hub

Holding its third day of sessions and panel discussions under the overarching theme of “Crypto Abu Dhabi”, Abu Dhabi Finance week witnessed today the launch of Abu Dhabi Crypto Hub by Abu Dhabi Global Market (ADGM), the leading international financial centre (IFC) of the UAE’s capital.

Given the rapid emergence of new virtual assets such as cryptocurrencies and other related assets, ADGM is leading the way to introduce progressive frameworks and regulations around these technologies and developments. The launch of “Abu Dhabi Crypto Hub” is therefore an important representation of the strategic initiatives taken by ADGM in support of economic diversification and the growing role of Abu Dhabi as a financial hub, addressing the current and future needs of the market through innovative technologies.

Crypto Abu Dhabi served as a vital platform to facilitate the assembly of the global crypto, blockchain and decentralised finance entities and elaborated on some of the most disruptive financial technology of our age, while also discussing and planning the long-term growth and development goals of an exciting, dynamic and forward-looking sector of the financial industry.

Another milestone launch at Crypto Abu Dhabi was the “The Future of Finance” youth circle, which included various elements and activities around it to enable communication related to finance between leadership and young individuals. These communications facilitated the transfer of knowledge, inspiring them to start their careers in the financial sector. led by Hamad Sayah Al Mazrouei, COO of ADGM and Managing Director of ADGM Academy, Mohamed Abdelbary, Group Chief Financial Officer of Abu Dhabi Islamic Bank (ADIB) and James Buchanan. James is a Partner & Co-Founder at SAF Partners

On securing Binance the Financial Services Permits form ADGM FSRA, Richard Teng, Regional Head of MENA and Europe commented: “Binance is committed to working closely with forward-thinking regulators and cities to develop a clear and beneficial regulatory framework that safeguards market integrity and consumer safety. Working with the ADGM and FSRA has been a highly collaborative process that underscores the value of cooperation between our industry and the public sector. We look forward to seeing the continued growth and prosperity of Abu Dhabi as a leading global hub for virtual asset activities, and we commend ADGM for facilitating the development of the local blockchain ecosystem.”

One of the highlights of Crypto Abu Dhabi was Atlas Capital, an innovative manager with a big initiative. Atlas has an effort underway to complement and further strengthen monetary systems around the world. Today, Atlas announced the launch of a new index, built using proprietary product strategies, and integration of USD and real assets into solutions (index, ETF, digital assets) that aims to deliver high quality returns to investors, while investing in collective social good.

Commenting on this, Nouriel Roubini, Chief Economist at Atlas Capital, said, “,The world needs bold ideas to address critical structural issues in our fiscal and monetary policies. Atlas is leading public and private sector partners to do just that – we can allow investors to earn high quality risk adjusted returns and impact the broader world around us.”

The insightful and interactive discussions spread across three hours during the day explored the best practices and the importance of building the economy for the future, giving the leaders of tomorrow a new perspective to approach challenges through innovative solutions.

The agenda of the day focused on the underlying blockchain and cryptography technologies that drive innovation, and accessing these financial assets through applications, broadly covering key topics related to new-age finance including decentralised finance, cryptography, trading, cryptocurrencies, blockchain tech, web3, tokenisation and NFT, wallets and Smart Contracts. The sessions and expert discussions at Crypto Abu Dhabi organised with theme partner, Roland Berger, delve into the next era of digital assets strategies, and the role of tokenisation in private market assets to open a new multitrillion-dollar democratised opportunity for investors globally. Furthermore, the sessions focussed on answering the key question of why regulations and policymakers stand at the edge of a transformational era in the financial industry.

On behalf of Crypto Abu Dhabi’s theme partner, Feroz Sanaulla, Partner and Global Co-Head Crypto Economy at Roland Berger, said, “Our participation as theme partners for the Crypto Day at ADFW is our commitment to providing thought leadership and cutting-edge knowledge for this burgeoning sector. At Roland Berger we have a holistic view on the Crypto Economy spanning Future of Finance, Tokenization, Metaverse/Web3.0, Mining and Digital Identity. Abu Dhabi’s leadership, via ADGM FSRA has created a regulated environment of innovation and forward thinking and we are seeing many large corporates now focusing on developing their own Crypto Economy strategies regionally. We are proud to assist these organizations in their crypto journeys”

ADFW 2022 is nearing its conclusion with its final theme day, Regulation, Awareness, Collaboration & Ecosystem (R.A.C.E.) Sustainability Summit to be held tomorrow.

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