DeFi Technologies board member Chase Ergen leads expansion into the UAE

DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a publicly traded financial technology firm bridging traditional capital markets with decentralized finance, has announced its strategic expansion into the Gulf region, led by Board Member Chase Ergen.

Ergen, an American telecom executive and blockchain advocate, is supporting the company’s regional growth strategy, with a focus on the United Arab Emirates (UAE). The UAE has emerged as a global hub for blockchain development and digital asset regulation, hosting over 500 licensed virtual asset entities. In 2024 alone, the MENA region, led by the UAE, Saudi Arabia, and Turkey, saw over $300 billion in crypto-related transactions.

“The UAE stands out globally for its clear regulatory framework and forward-thinking approach to digital assets,” said Ergen. “It’s one of the few places where meaningful collaboration between the public and private sectors is producing real-world Web3 adoption.”

DeFi Technologies’ regional entry is part of a broader effort to scale its digital asset infrastructure globally. The company operates multiple platforms, including Valour, which provides institutional access to over 65 digital assets through exchange-traded products (ETPs), and Stillman Digital, a crypto-native prime brokerage. It also owns Reflexivity Research, a digital asset research firm.

Parallel to these efforts, DeFi Technologies’ Chairman and CEO Olivier Roussy Newton is advancing cryptographic security through BTQ Technologies (CBOE CA: BTQ) (FSE: NG3) (OTCQX: BTQQF), which recently introduced the Quantum Stablecoin Settlement Network (QSSN). The QSSN aims to provide stablecoin infrastructure with protection against future quantum computing threats.

Ergen brings a background in cryptographic systems and satellite-based infrastructure to his current role. He is a US-based technology executive with a background in telecommunications, blockchain infrastructure, and digital asset systems. He began his career at Dish Network, where he gained experience in satellite communications and cryptographic technologies. Ergen later transitioned into the blockchain sector, focusing on Bitcoin mining and decentralized infrastructure. He currently serves on the Board of Directors at DeFi Technologies and is actively involved in advancing blockchain policy through advocacy initiatives in the U.S. and abroad.

In addition to his corporate role, Ergen has also supported policy advocacy initiatives through the Make America Wealthy Again (MAWA) Super PAC, focusing on tax reform related to digital assets in the U.S.

Regulatory developments in the UAE, such as licensing frameworks from the Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA), have created a favorable environment for expansion.

The move is part of a broader industry trend, as digital asset companies increasingly shift infrastructure from North America and Europe to jurisdictions with defined regulatory guidance and public-private collaboration.