Phoenix Group, the first cryptocurrency company in the UAE to list on the Abu Dhabi Stock Exchange (ADX), is planning to dual-list on Nasdaq in 2025. This move will help the company expand its global reach and strengthen its position in the cryptocurrency market.
Here’s what you need to know about this exciting development!
Phoenix Group was founded in 2017 in Abu Dhabi and has since become the largest cryptocurrency mining operator in the Middle East and North Africa (MENA) region. The company currently operates more than 765 MW of mining facilities in the United States, Canada, and the UAE.
In October 2023, Phoenix Group took a major step forward by being listed on the Abu Dhabi Stock Exchange (ADX).
Phoenix Group’s dual-listing on Nasdaq in 2025 is expected to help the company grow its business internationally and attract more investors. A listing on Nasdaq, one of the world’s leading stock exchanges, will raise the company’s profile and open up new opportunities in the global market.
Munaf Ali, the CEO of Phoenix Group, highlighted the importance of merging traditional and digital assets, indirectly projecting the company’s commitment to financial technology innovations.
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Phoenix Group is a major player not just in crypto mining but also in the distribution of BTC mining devices. The company is the exclusive distributor of these devices in the Gulf Cooperation Council (GCC) region, as well as in Egypt, Kenya, and Turkey.
Its wide-reaching network and partnerships have helped Phoenix Group expand its influence across multiple regions.
The UAE has been a key supporter of the digital economy, creating government-backed programs that encourage innovation in financial technology. This has helped Phoenix Group grow and has established the UAE as a hub for cryptocurrency and blockchain technology.
In conclusion, Phoenix Group’s planned Nasdaq dual-listing in 2025 is an important step in the company’s global growth. It will not only boost the company’s international presence but also reinforce the UAE’s position as a center for cryptocurrency innovation.
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