Abu Dhabi

Brevan Howard’s Crypto Arm Deploys $20M on Ethereum-Based Kinto in Institutional DeFi Push

Published

4 weeks ago

February 17, 2025

The Abu Dhabi-based branch of Brevan Howard Digital, the crypto arm of the global investment management firm, has deployed $20 million on Kinto, a blockchain platform designed for institutional participation in decentralized finance (DeFi).

The deposit makes Brevan Howard Digital one of the first traditional financial firms to tap into Kinto’s on-chain mining program, the protocol said.

Kinto operates as an Ethereum layer-2 network with built-in compliance mechanisms, including Know-Your-Customer (KYC) and Anti-Money Laundering (AML) protocols, facilitating financial institutions that face strict regulatory requirements to participate in decentralized finance. It also offers a smart contract wallet with default insurance and security enhancements.

The platform’s mining program, set to run for a decade, incentivizes participants by distributing token rewards for depositing assets on-chain on Kinto. Mining programs have been a staple in the DeFi sector but have largely been out of reach for traditional financial institutions due to compliance hurdles.

Brevan Howard Digital’s participation signals growing interest from legacy financial firms in blockchain-based finance, particularly as platforms like Kinto adapt to meet institutional needs, Ramon Recuero, according to Kinto’s co-founder and CEO. “Institutions have been waiting for two things: regulatory clarity and compliance features. Now, through Kinto, financial institutions don’t need to wait any longer,” he said in a statement.

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Abu Dhabi

BlackRock receives Abu Dhabi commercial license after Saudi approval

Published

4 months ago

November 18, 2024

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BlackRock has received a license to operate in Abu Dhabi, further expanding its business into the Middle Eastern region after gaining approval from Saudi Arabia just last month.

According to a Bloomberg report published on Nov. 18, the investment management company plans to apply to get regulatory approval to set up business in the Abu Dhabi Global Market, at the heart of UAE’s capital.

BlackRock’s Abu Dhabi office will primarily work with sovereign wealth funds, wealth managers and investment vehicles based in the region.

This latest development comes a month after BlackRock secured approval from Saudi Arabia to open up a headquarters in Riyadh. The asset manager has continued to branch out its business reach into the Middle East after announcing it would get up to $5 billion from the Public Investment Fund to invest in the Middle East and build a team rooted in Riyadh.

Additionally, BlackRock has partnered with Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan to bankroll the build-out of data warehouses and energy infrastructure within the region.

In a statement, Head of the Middle East for BlackRock, Charles Hatami, stated several reasons why the firm chose to operate in Abu Dhabi. Considering Abu Dhabi’s status as a hot spot for capital markets, he said that the region’s proactive government policies and commitment to sustainability make it an ideal location.

“Abu Dhabi has rapidly transformed into a global financial center,” said Hatami, adding that the firm plans to focus on private markets, specifically AI infrastructure, in Abu Dhabi.

BlackRock Chief Executive Officer Larry Fink explained that having the investment firm operate in both Abu Dhabi and Riyadh was a logical move, as both regions are competing head-to-head with Dubai to become the Middle Eastern business hub.

Both regions are famous for holding over $1 trillion of sovereign wealth, representing some of the biggest capital in the world.

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