April 11, 2023

ADQ Debuts Digital Asset Infrastructure Services in Abu Dhabi

ADQ Debuts Digital Asset Infrastructure Services in Abu Dhabi Featured Image

Zero Two Company, a digital asset infrastructure firm backed by Abu Dhabi holding company (ADQ), announced it has started its operations in the UAE capital of Abu Dhabi in light of the growing number of Web3 firms in the emirate.

In its announcement, Zero Two said it provides infrastructure for digital assets in an attempt to make use of the broad and innovative field, which this technology [Web3] offers, in addition to its transformative potential, according to Cointelegraph.

The company’s services include developing infrastructures, sourcing and testing new generation technologies, in addition to building and managing data centers, and providing digital asset management services.

In this regard, Chief Executive of Zero Two Ahmed Al Hameli noted that digital assets have enormous potential, which the world is leveraging, pointing out: “Zero Two enters the market with a robust and broad business model catering to rapidly emerging demand and a demonstrated commitment to meeting the highest standards of security and compliance.”

The market size of Web3, the third generation of the internet, is predicted to reach about $6.2 billion in 2023 and grow at a compound annual rate of 44.6% from 2023 to 2030.

Earlier in February, Abu Dhabi’s technology ecosystem, Hub71, announced the launch of a new initiative called Hub71+ Digital Assets, which aims to support the growth of Web3 start-ups and their innovations in the fields of metaverse and blockchain.

The Hub71+ Digital Assets will provide capital funding to Web3 start-ups, located in Abu Dhabi, worth $2 billion (+AED 7 billion) in a move to unlock the potential of Web3 and the growth of digital assets.

Under the initiative, Hub71 noted it will push the expansion of these start-ups to expand to Abu Dhabi and enhance their presence in the Middle East and global markets.

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