Crypto trading and venture capital firm Three Arrows Capital confirms the decision of shifting its headquarters from Singapore to Dubai, United Arab Emirates. Many crypto firms are eyeing the Middle East amid regulatory scrutiny from Singaporean officials.
The 2012 established hedge fund, Three Arrows Capital is going to organize its first ever fund which would take capital from external investors, according to sources familiar with the matter.
Three Arrows Capital co-founder Su Zhu described Dubai’s digital asset industry as “electric right now”. He confirmed the move by saying “We have decided to move our Three Arrows headquarters to Dubai and I’m looking forward to meeting more technology startups.”
The VC firm has joined the emerging list of crypto companies in Singapore that are looking at the Middle East as an alternative workplace because of its crypto-friendly-regulations.
Dubai’s tax rates, pro-business policies, and crypto-friendly-regulations are the main reasons for crypto firms to decide their expansion in the middle east. The UAE has a record of supporting crypto giants; just recently, the US-based crypto exchange Kraken was granted a license to operate in the UAE.
