Spirit Blockchain expands presence in UAE with Masary Capital

The Swiss-Canadian group Spirit Blockchain Capital based in Engelberg in the Swiss canton of Obwalden and Toronto has entered into a strategic partnership with the Dubai-based Masary Capital, announced a statement. As part of the partnership, Spirit will open an office in Dubai. From Dubai, the company plans to expand its presence in the Middle East with the support of Masary Capital. Masary provides a joint venture and advisory platform for companies from around the world that want to contribute to the region's Blockchain and metaverse strategy, as well as successfully scale in the area.

In return for Masary's advisory services, Spirit will assist Masary Capital with key Web3 infrastructure projects, including public Blockchain, scaling solutions, and decentralized applications such as DeFi and GameFi. Together, the two companies aim to become the preeminent partnership for decentralized finance, Web3, and asset management firms in the MENA region.

Spirit chose Dubai as it boasts the world's largest growth of the blockchain industry and it has a thriving ecosystem with some of the largest crypto exchanges. Dubai is also a strong supporter of the Metaverse and Blockchain gaming.

“We know that having a local partnership is the only way to create significant inroads and allocate capital appropriately,” commented Masary CEO Khalil Abdulla. “We couldn’t get to where we want to go without Masary as a key local partner,” added Spirit CEO Lewis Bateman CEO. “This is only the beginning and soon we intend to list on the Nasdaq Dubai.” mm