The Middle East is quickly becoming one of the most dynamic regions for crypto innovation, shaping the global conversation around regulation, adoption, and digital asset infrastructure.

At the heart of this transformation is Alex Chehade, based in Abu Dhabi, who has played a pivotal role in shaping the country’s digital asset landscape. Recently holding the role as Ecosystem Growth Lead at Ava Labs, Alex has seen  the expansion of the Avalanche blockchain through strategic partnerships across the region.

Previously, he led Binance FZE in Dubai, where he was instrumental in securing a landmark VARA license, cementing Binance’s footprint in the Middle East and positioning the UAE as a regulatory leader in the crypto space.

Today, in addition to his role at Ava Labs, Alex is building Falcon Clear, the first independent clearinghouse for crypto derivatives, aimed at bringing institutional-grade safety and risk management to the digital asset market. Through his consultancy, Zenith Arc, he also advises Web3 companies on navigating the region’s fast-evolving regulatory and business environment.

In this interview, Alex shares his perspective on regulation, innovation, and what’s next for crypto in one of the world’s most dynamic markets.

Adaverse: You’ve shared your crypto origin story before, but how did your early experience as a trader, and living through the 2008 financial crisis, shape your investment mindset and interest in digital assets?

Alex: Experiencing the 2008 crisis firsthand made me question the stability of traditional finance and helped me appreciate the Bitcoin thesis early on. My trading background translated well to crypto, and the Dubai government’s blockchain push in 2016–17 convinced me to go all in. I see value in both centralized and decentralized solutions, but crypto’s utility is especially clear in regions like the Middle East, where payment infrastructure is less developed and solutions like Venmo, Paypal are not yet ubiquitous.

Adaverse: How do you see regional differences shaping founder demographics and project types in the crypto space, particularly between places like Europe and Asia?

Alex: In the West, including the US, financial regulations mean you have to be careful. You get second- or third-time founders focusing on blockchain as a tool for their startups. In Southeast Asia, communities focus more on engagement and speculative products – gamification, gaming, or even gambling. People are less afraid to set things up. For example, Hyperliquid is blowing up as an unregulated derivatives exchange, which would be a complete no-go in Europe. So, there are definitely two types of demographics being served in crypto.

Adaverse: You’ve witnessed the UAE’s rise as a global hub for crypto innovation. Are there any other markets worldwide that truly compare? Do you think what the UAE has accomplished with VARA could realistically be replicated elsewhere in the region?

Alex: First of all, there are very few people worldwide who are genuinely qualified to be crypto regulators. Even the US struggles with this! So that’s a challenge. What Dubai has built is rare; only Singapore and Hong Kong come close. Add in the UAE’s low taxes and ideal time zone coverage, and it’s clear why it’s so hard to compete.

Adaverse: You recently compared Bitcoin to gold in a Linkedin post. Do you invest in both?

Alex: I don’t hold gold, mainly because my crypto exposure already covers that space. I used to trade gold and know its value as a hedge – scarce, portable, and trusted. Bitcoin shares those traits but is easier to move and self-custody. Many hold both, but I see too much overlap. I’m covered on the “apocalypse protection” front. 😄

Adaverse: Do you invest in startups? What are the biggest opportunities for builders in Web3 right now, especially with AI crossover?

Alex: I have invested in startups, generally without much success. 😀

The biggest opportunity now is that crypto is maturing. I tried to set up a regulated exchange in 2018, but it was too early, everyone wanted platforms like FTX. Now, with the US showing a more positive stance toward crypto, regulation is coming, but it will take time, at least 18 months. The biggest opportunity is to set up regulated businesses in places like the UAE and then export to other markets once their frameworks are ready. If you have an operational, regulated business, it’s easier to expand and talk to regulators. My consultancy helps with this.

Adaverse: Let’s chat about Ava Labs and Avalanche – can you share any exciting projects you’re working on?

Alex: Avalanche has had several upgrades in the past year, making it easier to deploy L1s (layer-1 blockchains) rather than just subnets. This allows businesses to create bespoke blockchains interoperable with the Avalanche ecosystem. Two high-profile games, MapleStory and Gunzilla, have gone live recently. 

The platform supports various use cases, public or private blockchains, permissioned or permissionless, depending on needs. Avalanche wants to be like WordPress for blockchain, an enabler for interaction and interoperability. 

Recent upgrades have also lowered staking requirements and made it easier for financial services to participate.

Adaverse: You’re building a new project in crypto clearing. Why is it important now, and how does it fit into the evolving landscape of centralized vs. decentralized exchanges?

Alex: Falcon Clear is a centralized clearinghouse for crypto derivatives. Right now, most exchanges handle their own clearing, which creates significant counterparty risk, something traditional finance solved long ago with independent clearinghouses.

We’re bringing that model to crypto to make markets safer and more stable, especially for institutions. Events like the FTX collapse highlighted the need for this kind of infrastructure.

While decentralized exchanges are great for peer-to-peer use cases, they can’t manage shared risk the way centralized models can. We think the market is splitting, some users want full control, but institutions need regulation, oversight, and risk management. Falcon Clear is built for that.

Adaverse: Alex, this has been incredibly interesting. Thank you for your time and insights!