Outside Source
DWF Labs, a crypto venture capital company, will move its main office to Abu Dhabi as part of its efforts to establish ‘a strong presence in the Middle East’, according to its co-founder.
Co-founder of DWF Labs, Andrei Grachev, announced through an X post that the crypto venture capital firm will relocate its headquarters from Singapore to Abu Dhabi. The reason for this move is their desire to expand the firm’s operations further into the Middle East, specifically in the field of finance and real-world assets.
“In order to build a strong presence in the Middle East and run more RWA and financial services there, @DWFLabs is moving the headquarter to Abu Dhabi,” Grachev wrote in his X post on Dec. 2.
Although, Grachev did not say when the move will take place or when the headquarters will officially reopen in Abu Dhabi, he hinted that the company will reveal more news ahead of moving day. The soon-to-be headquarters in Abu Dhabi will be DWF Labs’ second office in the Middle East, as the crypto-focused firm already has an office in Dubai.
The United Arab Emirates has been hailed by many as a leading crypto hub and a hot spot for capital markets. This year, several crypto firms have been expanding their operations into the region, including BlackRock, QCP Capital and more.
Last September, DWF Labs partnered with meme coin launchpad GraFun to enhance liquidity for tokens launched through GraFun, which operates on the BNB Chain, promoting more stable and transparent trading of meme coins.
DWF Labs is also known for forming a strategic partnership with Australian celebrity Iggy Azalea after she launched the Solana-based meme coin MOTHER.
According the firm’s profile on PitchBook, DWF Labs was established as a venture capital firm in 2022 with its main office located in Singapore. Though, DWF also has an office in Dubai along with operations in Switzerland, the British Virgin Islands, South Korea, and Hong Kong. The firm is known for investing mainly in companies operating in the web3 and cryptocurrency sectors.
This article first appeared at crypto.news
