BlackRock Obtains License in Crypto-Friendly Abu Dhabi
Amid the $10 trillion asset manager’s recent foray into the cryptocurrency sector, BlackRock has officially received a license to operate in the crypto-friendly Abu Dhabi. Specifically, the firm has obtained a commercial license to operate in the capital of the United Arab Emirates (UAE), according to Bloomberg. The approval was granted Monday and reportedly reflects the asset managers expanding business interest in the region. Moreover, the report notes that the firm is also looking to gain more operational licenses, specifically for a presence in the Abu Dhabi Global Market (ADGM). Source: CNBC Also Read: BlackRock’s Spot Bitcoin ETF Officially Surpasses Its Gold ETF Spot Bitcoin ETF Issuer BlackRock Gets Abu Dhabi License At the start of the year, Bitcoin got a massive boost by becoming the first crypto-based ETF in the United States. The pursuit to get the product approved was boosted by the firms that stood behind the idea. Specifically, asset managers like BlackRock an...