‘Three Arrows Capital’, a crypto trading firm to move its headquarters to Dubai

'Three Arrows Capital', a crypto trading and venture capital company, is shifting its headquarters from Singapore to Dubai, United Arab Emirates (UAE).

‘Three Arrows Capital’, a crypto trading and venture capital company, is shifting its headquarters from Singapore to Dubai, United Arab Emirates (UAE).

The move comes as Three Arrows Capital planned to organize its first-ever fund that will be taking capital from external investors, as per the sources aware of the matter.

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The firm is the latest crypto giant to eye in the Middle East because of the regulatory climate that is continuously coming down in Singapore.

Three Arrows Capital Ltd. is a hedge fund founded in 2012 by Kyle Davies and Su Zhu and concentrated on providing exceptional risk-adjusted returns.

The Capital firm declined to give any comments regarding the fundraising plans, but Co-founder Su Zhu confirmed their move toward Dubai.

Zhu said, “The energy in Dubai’s digital asset industry is electric right now. We have decided to move our headquarters of Three Arrows to Dubai, and I am looking forward to meeting more technology startups.”

The country’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has started cracking down on crypto activity, adding many crypto companies to its Investor Alert List (IAL).

The MAS defines the list as “unregulated individuals who may have been wrongly perceived as being licensed or regulated by MAS based on information received by MAS.”

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During last fall, the crypto exchange Binance, which has its operations in Singapore, was added to the IAL. Binance has also stepped forward and showed its presence in Dubai, as it recently obtained a license to function in Dubai as a virtual asset service provider.

Founder of the crypto venture capital firm Multicoin Capital, Kyle Samani, said about the trend toward Dubai, “For a while, Singapore was making pro-crypto decisions, but now something has changed course.”

“I’m very impressed with the idea of Dubai Virtual Assets Regulatory Authority,” further added Kyle Davis, also a co-founder of Three Arrows Capital. “I expect many leading firms to continue to shift to Dubai and contribute to the growing digital asset ecosystem.”

Tariq Saeed

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