Via Satellite archive photo

SpaceChain has opened a new office in Abu Dhabi as it looks to tap into markets in the Middle East, the company announced March 16. SpaceChain will look to spearhead the planning and development of integrated space-blockchain projects and initiatives in the Middle East and North Africa (MENA) region.

SpaceChain MENA will collaborate closely with startups and organizations in the space, blockchain, and fintech arenas within the region for business growth across multiple service offerings including e-wallets, space commodities exchange, and decentralized finance applications. The establishment of SpaceChain’s UAE office will help SpaceChain advance its decentralized satellite infrastructure (DSI) for business and fintech applications, and extending its space-as-a-service capabilities to enterprises and communities across the MENA region to create a next-generation infrastructure for the blockchain industry in outer space. To date, SpaceChain has successfully launched six blockchain-enabled satellite payloads into space.

“The UAE has laid a strong foundation in establishing its space industry as a sustainable economic enabler to benefit future generations, and is executing on a comprehensive action plan to develop specialized capabilities in this field. SpaceChain is proud to be contributing to the growth of the UAE’s space sector by fueling growth in commercial activities, and working in collaboration with organizations and startups on harnessing space-as-a-service as a platform for innovation,” Nick Trudgen, chief commercial officer and co-founder of SpaceChain MENA said in a statement.