Crypto.com Appoints Al-Hakim as President of UAE Ops

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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December 19, 2024

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Crypto.com has announced the appointment of Mohammed Al-Hakim as the President of its operations in the United Arab Emirates (UAE).

Al-Hakim will head up business development, strategic partnerships, and financial innovation to Crypto.com. According to the press release, he has been key in driving over $800 million in foreign investments into Dubai. Al-Hakim has raised millions in sponsorships for UAE government initiatives and launched programs aimed at empowering Emirati professionals.

Kris Marszalek, CEO of Crypto.com, expressed confidence in Al-Hakim’s leadership, stating that his expertise will be pivotal in advancing the company’s goals in the UAE.

“The UAE is a critical market for us, and Mohammed’s leadership and experience will help us build strong relationships and achieve sustainable growth in this key region,” said Marszalek.

Crypto Businesses Flock to the UAE

Dubai has emerged as an important location for cryptocurrency and blockchain firms due to its policies, regulatory clarity, and strategic positioning. VARA, established to oversee the regulation of virtual assets in Dubai, has gained recognition for its strict yet progressive regulatory framework.

Al-Hakim’s appointment comes as the UAE continues to position itself as a global hub for blockchain and cryptocurrency businesses. The country’s supportive regulatory framework and focus on digital transformation have attracted leading crypto companies to establish a foothold in the region.

With Al-Hakim at the helm, Crypto.com said it aims to strengthen its local operations, foster partnerships, and support the UAE’s ambitions to become a leader in the blockchain and cryptocurrency ecosystem.

Crypto.com’s move signals its commitment to leveraging regional expertise while contributing to the UAE’s growing crypto and fintech landscape.

Recently, Richard Teng the CEO of Binance commented on the Middle East, Teng pointed to innovative regulatory approaches in countries like Abu Dhabi, Bahrain, and Dubai. He praised Dubai’s establishment of the VARA which is dedicated solely to overseeing the crypto industry.