Abu Dhabi is no longer just positioning itself as a crypto hub; it is effectively becoming the global clearing house for the digital dollar economy.
Crypto executives descended on the Emirati capital last week in search of fresh capital, hoping that Abu Dhabi’s heavyweight sovereign-wealth investors could revive momentum in a sector that has cooled in recent months, The Wall Street Journal reported Sunday.
Bitcoin and finance conferences
The city’s crypto crowd split into two camps during the week. At the Bitcoin MENA conference, hardcore enthusiasts packed in to see Saylor, who drew fans hoping for selfies and was honored with a custom orange jacket.
Binance founder Changpeng Zhao, pardoned by Trump earlier this year, appeared in shoes emblazoned with Trump. Crypto President. Binance has denied any financial ties to the Trump family, and Zhao’s lawyers said the pardon had nothing to do with the company’s business.
Zhao hosted guests days earlier on a towering yacht during the Abu Dhabi Grand Prix, and later attended a dinner with former Trump campaign chairman Paul Manafort, himself recently pardoned. Manafort told attendees he had advocated for crypto with the president.
Across town, institutional investors and traditional finance figures gathered at Abu Dhabi Finance Week, where executives from Coinbase, Circle, UBS and HSBC mingled with Ray Dalio and Blackstone’s Stephen Schwarzman. The crown prince opened the event, underscoring the state’s interest in digital finance.
Building long-term relationships
Despite the buzz, local insiders cautioned that newcomers often misunderstand how Emirati capital is deployed. One broker said many first-time visitors mistakenly assumed any Emirati in a traditional thobe represented a major sovereign investor. In reality, he said, serious investment decisions typically require years of relationship-building and commitments to establish a physical presence in the UAE.
Those willing to put down roots can find opportunities. RockawayX, a venture firm with roughly $1.8 billion in assets, recently announced its acquisition by an Abu Dhabi-backed company and told audiences the UAE is emerging as a central hub for digital finance. One executive said the government is not interested in visitors “looking to fly in and leave with a quick payout,” emphasizing that local investors expect companies to make long-term commitments to the region, the Journal reported.
Multiple conferences, private yacht parties and invite-only gatherings drew industry leaders eager to meet representatives from major UAE funds, including a $330 billion sovereign vehicle rumored to be scouting opportunities. Attendees swapped tips on which events might offer access to influential financiers, while chasing introductions to advisers close to the royal court.
Among the biggest names was Michael Saylor, whose company has aggressively accumulated bitcoin. He told attendees he had been touring the region to pitch large investors, including sovereign funds, on new structures to expand his firm’s bitcoin holdings. His presentation likened his strategy to a rocket powered by cryptocurrency and framed it as a multitrillion-dollar opportunity.
Other firms arrived with their own funding pitches, including Japan’s Metaplanet, which outlined a preferred-share plan, and investment groups linked to the Trump family and South Korea’s Hanwha Group, both seeking to grow crypto operations in the region.
The industry’s push comes after bitcoin cooled in October and the broader market failed to match expectations that President Trump’s pro-crypto stance would translate into rapid adoption and sustained price gains. Progress on crypto legislation in Washington has also slowed, tempering optimism.
Greater commitment to digital assets
The UAE, meanwhile, has only strengthened its commitment to digital assets. Binance secured full approval from Abu Dhabi regulators to operate its global exchange from the emirate, building on a sizable state-backed investment earlier in the year. Mubadala, one of the country’s most powerful sovereign-wealth funds, recently expanded its direct and ETF-based bitcoin holdings, regulatory filings show.
Local officials are also courting startups with financial incentives and subsidized office space. One venture investor described Abu Dhabi as a rare market where capital, decision-makers and infrastructure converge in one place.
