Deus X Capital, a $1bn family-office backed investment and operating company and Bridgetower Capital, a provider of digital asset and blockchain infrastructure are partnering to create Bridgetower Middle East (ME).
Tim Grant, CEO of Deus X Capital, and Cory Pugh, CEO of Bridgetower Capital, will lead the newly formed entity that is the first of many expected partnerships between the two companies, the companies said in a statement today (9 February).
Bridgetower ME is based in ADGM, the international financial centre (IFC) of Abu Dhabi, with a presence in Dubai and a mission to launch and operate an institutional grade digital asset infrastructure platform to facilitate the rapid growth of digital assets business in the United Arab Emirates and throughout the Middle East/GCC Region.
The company is self-funded and brings more than $250m of delegated assets for turnkey staking, alongside years of digital asset and capital deployment experience and resources available through Bridgetower and Deus X.
Customer offerings include turnkey institutional staking, a secure service that will see Bridgetower ME validate transactions across some of the world’s largest blockchains that it is bringing to the region.
Customers will also have access to advanced data center capabilities including AI GPU services over blockchain networks. Bridgetower ME will produce and distribute AI GPU compute power generated from its proprietary bare metal server infrastructure and data center capabilities.
The platform will also offer private equity/venture building facilitation, to support and grow the blockchain digital asset ecosystem in the UAE region, and its customizable Web3 commerce platform, to service prominent brands who are evolving products and services into digital asset opportunities. This includes participation by large global consumer brands, global art markets, and partnerships with global sports clubs, associations and athletes amongst others.
“Staying true to our road map of global expansion and partnering with top companies, it’s a rare privilege to see Deus X and Bridgetower partner to create Bridgetower ME as one jointly owned, Abu Dhabi entity,” said Bridgetower chairman and CEO Cory Pugh. “We will bring substantial assets forward to the newly formed Bridgetower ME. We have tremendous respect for the UAE business culture and regulatory approach to digital asset infrastructure and look forward to investing resources to both incubate and bring new opportunities to the UAE.”
“We are delighted to have the opportunity to work with Abu Dhabi to incorporate a company that is solely focused on making the country the global leader in digital assets and fintech,” said Deus X Capital CEO Tim Grant. “Our mission is to help bring about a new financial ecosystem that is cheaper, fairer and more accessible for everyone, and this is an enormous opportunity to help achieve that goal in the region.”
Arvind Ramamurthy, chief of market development at ADGM said “Bridgetower ME is making exciting moves as they look to strategically contribute to the development of the digital asset infrastructure in the UAE and throughout the MENA region, by establishing their presence in Abu Dhabi. ADGM’s comprehensive regulatory framework for digital assets provides a solid ground for leading players in this sector and creates a business-friendly environment for their development and operations expansion. We look forward to Bridgetower ME participation in ADGM’s vision of technological innovation and excellence, and its contribution to positioning Abu Dhabi as a global hub for digital assets.”
In related news today, Bridgetower Capital announced Deus X Capital had made an investment in the company and Deus X CEO Tim Grant has joined the Bridgetower Board of Directors and was named Bridgetower Vice Chairman.
“We welcome Deus X Capital’s investment and see tremendous value and credibility in adding them to our cap table,” said Bridgetower Chairman and CEO Cory Pugh. “I have known Tim Grant for a number of years and am impressed with his strategic mind, integrity and vast industry experience. He will be a huge asset to Bridgetower Capital.”