QCP Capital and Further Ventures Announce Partnership for Middle East Crypto Expansion

In Dubai on Wednesday, QCP Capital, a cryptocurrency trading company based in Singapore, and Further Ventures revealed their plan to collaborate and broaden their reach into the Middle Eastern market. They aim to introduce innovative digital-asset financial and derivative products to cater to this region’s growing demand.

QCP announced its intention to establish a new office in Abu Dhabi. Meanwhile, Further Ventures will leverage their broker-dealer authorization and custodial services to facilitate the sale of newly developed products.

“Abu Dhabi stands out due to its advanced regulatory system for fostering the expansion of digital assets in institutions, according to Melvin Deng, QCP’s CEO. He made this statement during a Telegram interview, aligning with our perspective that regulation plays a crucial role as the ecosystem advances and matures.”

In simple terms, Abu Dhabi is rapidly emerging as a significant institutional base for cryptocurrencies. The Abu Dhabi Global Market (ADGM), the emirate’s financial authority, recently announced impressive growth, reporting a 35% increase in managed assets.

A study conducted by Chainalysis in October 2023 revealed that most digital asset transactions in the UAE involved sizeable investments from institutions.

In December, Coinbase revealed that their latest service, enabling institutional investors to trade cryptocurrency equivalents of traditional financial assets, had been given preliminary green light by the ADGM’s Financial Services Regulatory Authority (FSRA).