Singapore-based crypto trading firm QCP Capital has entered into a strategic partnership with Further Ventures to expand its presence in the Middle East market. This collaboration aims to tap into the growing interest of institutional investors in the UAE towards cryptocurrencies.

QCP Capital and Further Ventures are joining forces to develop new financial products catering not only to trading but also to the secure storage of crypto assets. While specific details about the partnership are limited, QCP is looking to extend its trading services beyond the Asian market, while Further Ventures aims to strengthen its position in the market with licensed broker-dealer and custodial platforms.

QCP is planning to establish a presence in Abu Dhabi Global Markets, although the exact timeline for this move has not been disclosed.

QCP Capital CEO Melvin Deng expressed optimism about the partnership, highlighting the potential for growth in Abu Dhabi due to increased institutional adoption of digital assets and the rapid growth of traditional assets under management.

Abu Dhabi has been a focal point for crypto firms, with initiatives like Hub71+ Digital Assets allocating $2 billion to support the development of blockchain startups in the region. Other companies, including Coinbase and Binance, have also shown interest in exploring opportunities in Abu Dhabi.

Overall, the partnership between QCP Capital and Further Ventures signifies a strategic move to capitalize on the growing crypto market in the Middle East and expand their services to cater to the evolving needs of institutional investors in the region.

Post Views: 3