SpaceChain has opened its UAE office in Abu Dhabi where it will work closely with start-ups and organizations across the region to drive new opportunities in the new space economy.

Incorporated and operated under the legal entity of SpaceChain MENA Ltd, the new office is located at Hub71, Abu Dhabi’s global tech ecosystem, where the company will spearhead the planning and development of integrated space-blockchain projects and initiatives in the Middle East and North Africa (MENA) region.

The establishment of SpaceChain’s UAE office is a milestone in advancing SpaceChain’s 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 to realise its DSI vision.

“Being part of the Hub71 community places SpaceChain at the gateway to the burgeoning space industry in the MENA region. Our presence alongside other high-growth tech companies will allow us to share expertise and collaborate with leading influential players in Abu Dhabi’s growing innovation ecosystem that are interested in capitalizing on the New Space Economy,” said Zee Zheng, SpaceChain co-founder and CEO. “The space industry in the Middle East is rapidly growing with strong support from the UAE government and its planned economic diversification from oil. We are very excited to be contributing to the industry growth by helping regional enterprises transition into space-based businesses through the integration of space and decentralized blockchain technology.”

SpaceChain MENA will collaborate closely with start-ups and organizations in the space, blockchain and fintech arenas within the region to uncover business and growth opportunities across multiple service offerings, including e-wallets, space commodities exchange, micro-geoservices that connect Earth observation service providers with user communities and decentralized finance (DeFi) applications.