Orhan 
US-based investment giant BlackRock has obtained a license to operate in Abu Dhabi. The company aims to expand its presence in the UAE’s crypto-friendly ecosystem by focusing on private markets and artificial intelligence (AI). According to Bloomberg, the license granted on November 18 reflects BlackRock’s growth ambitions in this crypto-friendly region.
BlackRock has also applied for an additional license to operate within the Abu Dhabi Global Market (ADGM), known as a hub for crypto firms like Blockdaemon, M2, and Laser Digital.
As AI investments in the region surge, BlackRock plans to concentrate on AI infrastructure in Abu Dhabi. Charles Hatami, BlackRock’s head of the Middle East region, stated that Abu Dhabi has emerged as a global financial center, offering a strategic location and commitment to sustainable growth, making it an attractive destination for investors.
In April 2023, Microsoft invested $1.6 billion in G42, an Abu Dhabi-based AI technology holding company, and announced the establishment of two new AI centers in September. These developments highlight Abu Dhabi’s growing status as a hub for artificial intelligence. BlackRock’s licensing further supports the UAE’s efforts to strengthen its leadership in digital finance.
With this move, BlackRock gains an opportunity to bring its global AI investments to the Middle East. Additionally, the company’s activities in the region have the potential to accelerate the development of AI infrastructure and enhance the financial and digital ecosystem in the UAE.
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