There is naturally considerable interest in the financial technology sector among investors, and for good reason too, given the long-term prospects of the sector. One of the companies in the sector that could be worth looking into is DeFi Technologies Inc. (OTC:DEFTF). The fintech company is the only publicly listed company at this point that focuses on bridging the gap between Web3, decentralized finance, and capital markets.
On April 8, the company entered the news cycle after it announced that Valour Inc., its subsidiary and a leading ETP (exchange traded product) issuer helping with easier access to digital assets, had established a new trading desk in the United Arab Emirates. In the news release, the company noted that the development was a major step in its mission to boost global accessibility to regulated digital assets. Additionally, it also demonstrated the commitment of DeFi Technologies to the worldwide growth of ETPs offered by Valour.
The news release stated that the expansion into the Middle Eastern region was a major element in Valour’s strategy of not only expanding its range of product offerings but also its worldwide footprint. Additionally, there were compelling reasons why the UAE had been chosen to expand into global markets. The UAE is well-known for providing a progressive regulatory framework, the use of blockchain technology in a number of sectors, and a high rate of cryptocurrency adoption.
As much as 27% of the UAE population is known to engage in crypto ownership. One of the more important aspects of the initiative from the company would be to expand the assets under management at Valour. In order to accomplish that, the company would launch as many as 15 new ETP products in 2024, in addition to the 17 products that it already offers in the European market.
