WEMIX Abu Dhabi Office Opening to Stimulate Growth in MENA Region

WEMIX, Korea’s top blockchain-based ecosystem developer, announced the creation of its subsidiary in the Middle East and North Africa (MENA) area today as the next step in its worldwide development ambitions. WEMIX MENA LTD is expected to spearhead the growth of its operations amid major crypto and blockchain industry developments in MENA, as it is located in Abu Dhabi Global Market (ADGM), a premier international financial centre known for its transparent and pioneering regulatory frameworks, business-friendly operations, and well-established local and international strategic partnerships.

The Middle East and North Africa region is the world’s fastest growing market for crypto adoption and Abu Dhabi, the capital of the United Arab Emirates, has also been actively focusing on expanding global blockchain business by implementing digital asset regulations in 2018 and introducing the Abu Dhabi Global Market (ADGM).

The city is the top choice for global IT businesses wishing to develop their company in the MENA area due to significant growth in the game sector and government support for blockchain business. The founding of the MEA & Asia Crypto & Blockchain Association (MEAACBA) in Abu Dhabi in November 2022[2] added to the city’s burgeoning reputation. The industry association is anticipated to aid in the creation of crypto-blockchain ecosystems that are accessible, transparent, and compliant. Governments in the area are also enacting pro-blockchain regulations and focusing on digital innovation projects such as blockchain-based business ecosystems and digital asset services.

Jason Kim, Director, WEMIX MENA LTD, said:

“We are seeing increasing interest in cryptocurrency and blockchain as key business drivers from both the public and private sectors in Abu Dhabi and across the UAE. The launch of our operations in MENA is an important step for tapping into the momentum in this fast-growing region and will play a pivotal role in contributing to the expanding blockchain ecosystem.”

Kim explained how their new office is part of opening future offices in similarly strategic locations and markets:

“We aim to be an anchor for both Korean blockchain companies expanding into MENA as well as local government agencies, companies and brands in the UAE and across MENA which are interested in blockchain-related projects. This is just the first step for WEMIX in MENA, and there are plans to open additional offices in the region with potential locations like the UAE and Saudi Arabia.”