BlackRock, the global investment giant , has obtained a commercial license to operate in Abu Dhabi and the UAE.
Author: Sahil Thakur
BlackRock, the global investment giant and issuer of the iShares Bitcoin Trust ETF, has obtained a commercial license to operate in Abu Dhabi. The move signals the company’s growing interest in the Middle East, a region known for its crypto-friendly policies and rapid technological advancements.
Charles Hatami, BlackRock’s Middle East head, emphasized the advantages of operating in Abu Dhabi, citing its strategic location, progressive policies, and commitment to sustainable growth. The firm is also pursuing a license to operate within the Abu Dhabi Global Market (ADGM), home to several blockchain and crypto firms like Blockdaemon and Laser Digital.
While BlackRock did not announce immediate crypto-related plans, its license aligns with Abu Dhabi’s growing focus on artificial intelligence. The city has drawn major AI investments, including a $1.6 billion commitment from Microsoft in April to boost AI development through G42, a local tech conglomerate. Microsoft also revealed plans to establish two AI centers in Abu Dhabi, further cementing the region’s status as an AI innovation hub.
BlackRock’s expansion comes as the UAE solidifies its leadership in digital finance. The nation ranked third globally in a crypto adoption index released by Henley & Partners and continues to attract major players in blockchain and cryptocurrency.
The development also follows BlackRock’s recent achievements with its iShares Bitcoin Trust ETF, which exceeded $33 billion in net assets, surpassing its gold counterpart. As the firm broadens its focus, its move into Abu Dhabi positions it strategically at the intersection of AI and digital finance innovation.
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