Global crypto asset managers set up crypto infrastructure platform in ADGM: London-based family office Deus X Capital and Australian private equity firm and blockchain provider Bridgetower Capital are setting up a digital asset infrastructure platform in Abu Dhabi Global Market, according to a press release. Dubbed Bridgetower Middle East, the self-funded company will own USD 250 mn assets for turnkey staking, the statement said.

Uh, Enterprise, what’s turnkey staking? In the cryptoverse, a proof of stake consensus mechanism — which governs certain crypto exchanges — involves staking (or locking up) some of your crypto assets to help validate other transactions. The bigger your stake, the more transactions you validate and, potentially, the more of the currency you get in return. You can read more on the exact rules of how this works in Enterprise Egypt’s explainer on proof of stake here.

So what will the platform do? The company will host nodes to provide turnkey staking services, where it validates transactions on crypto investors’ behalf across different blockchain platforms. It will also provide AI graphical processing unit computing to improve data center capabilities, and will have a PE arm that focuses on developing digital asset businesses in the UAE and the Middle East.

Who’s heading the company? The company will be led by Deus X Capital CEO Tim Grant and Bridgetower Capital CEO Cory Pugh.

Is there demand for these services? Grant told Coin Telegraph that the company aims to serve a “wide range of institutional clients who are looking to leverage new technologies in a scalable, compliant and cost-effective manner.”

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