RENO, ABU DHABI, 10th December, 2019 — HBK-GoChain, The Blockchain Company, today announced an investment in Arabian Bourse (ABX), which received In-principal Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) as a crypto asset exchange and custodian.
This announcement completes a significant milestone in the roadmap for the creation of a fully regulated, first of its kind crypto asset exchange and custodian that focuses on global institutional and retail traders.
His Highness Sheikh Hamad Bin Khalifa Bin Mohammed Al Nahyan, Chairman of HBK-GoChain, commented, “In line with the vision of UAE and its leaders we realised the importance of adopting next generation technologies like blockchain and digital assets. To be actively involved in these businesses and become the industry leader we invested in GoChain and followed up by investing in Arabian Bourse. These investments are very strategic to our group and we believe that Arabian Bourse with its well experienced founders is best placed to be our partners. As a definitive goal we would like to replicate this business model in other parts of the world.”
Jason Dekker, Co-founder and CEO of HBK-GoChain, said “The digital asset world with its underlying Blockchain technology is seeing remarkable growth. The largely unregulated marketplace and its associated custody system need exchanges like Arabian Bourse which offer a fully regulated, robust and transparent marketplace. Integrating HBK-GoChain with Arabian Bourse delivers a complete eco-system. Having closely watched the development of crypto exchanges on a global scale we feel very confident about the success of Arabian Bourse supported by its exceptional management and operational expertise.”
The ABX and HBK-GoChain ecosystem will ultimately act as a bridge, integrating the region’s digital assets activity with other major digital asset centres around the world. The terms of the deal have not been disclosed.