PANews reported on December 23 that according to Cailianshe, Phoenix Group, the UAE's first local cryptocurrency company listed on the Abu Dhabi Stock Exchange (ADX), recently announced the appointment of a new CEO and plans to achieve dual listing on Nasdaq in 2025 to further expand its international market and enhance its global influence.

Phoenix Group was founded in 2017 and is headquartered in Abu Dhabi, UAE. In October 2023, it was successfully listed on the Abu Dhabi Stock Exchange, becoming the first private cryptocurrency and blockchain entity to be listed on the Middle East stock market.

It is reported that Phoenix Group is the largest cryptocurrency mining business operator in the Middle East and North Africa, with a layout in mining, hosting, trading and investment, and operates a total of 765 megawatts of mining facilities worldwide.