MidChains, an Abu Dhabi-based blockchain enabled financial investment exchange, is set to open a crypto exchange business under the new Abu Dhabi Global Market (ADGM) Crypto Asset regulatory framework.

Hub71 has announced that seven new startups will bring a significant part of their operations to the Abu-Dhabi based tech hub

The world’s thirteenth largest sovereign wealth fund, Abu Dhabi-based Mubadala Investment Capital, has made an investment in cryptocurrency exchange MidChains.

The venture capital arm of Mubadala Investment Company has taken a stake in MidChains, a company which recently gained approval from Abu Dhabi Global Markets (ADGM) regulators to operate a crypto asset exchange in the capital.

Amid what it described as “challenging market conditions,” Abu Dhabi sovereign wealth fund Mubadala Investment Capital has just thrown its support behind an unlikely candidate: cryptocurrencies.

As part of the agreement, the parties will pursue joint technology licensing and product listing opportunities internationally, including in the Middle East and Bermuda, subject to regulatory approval.

MidChains was formed in 2017 to take advantage of the cryptocurrency asset trading space.

Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options®, MIAX PEARL™ and MIAX Emerald™ options exchanges (the MIAX Exchange Group™), and MidChains, an upcoming digital asset trading exchange based in Abu Dhabi Global Market (ADGM) seeking to operate under the Financial Services Regulatory Authority (FSRA) framework, today announced that MIH has agreed to purchase an equity stake in MEEG Holdings Limited, the parent holding company of MidChains.

MidChains, the upcoming virtual asset trading exchange based in capital city of Abu Dhabi, today announced that it has closed its latest funding round with investments from Mubadala Capital, the asset management arm of Mubadala Investment Company; Miami International Holdings; the Abu Dhabi Investment Office (ADIO) and other notable regional investors.

MidChains, an Abu Dhabi virtual asset trading exchange, said it closed its latest funding round with backing from investors such as Mubadala Investment Company’s asset management arm.