Abu Dhabi-based digital private wealth platform launches

The company, which is regulated in Abu Dhabi, says it offers clients access to areas, including the private market, for relatively low ticket values.

refugeis a digital private wealth management platform based in the United Arab Emirates and backed by Outliers VC, launched as a business.

The organization is regulated Abu Dhabi Global Market.

The group said it intends to focus on protecting wealth, reducing risk by diversifying assets and taking advantage of global opportunities.

Vault said it wanted to encourage wealth holders in the region – where wealthy individuals typically hold large cash holdings – to diversify into cash.

The UAE has an adult population of 8 million, with a total wealth of more than US$1 trillion, of which financial assets account for 63.4%. About 9.6% of adults have more than $100,000 in assets, and the per capita wealth is about $122,841.

“Despite such vast wealth, the general trend in the UAE is to hold the majority of its financial resources in cash, whereas over 80% of financial wealth in the US is actively invested,” Vault said. There is more awareness and understanding of investment allocation.”

The firm invests in thematic focus areas as well as private investments, including venture capital, artificial intelligence and private real estate. Investors only need to put up a minimum of $60,000 to get in.

Customers can earn passive monthly income and 4.53% APY (annual yield) cash interest, more than five times the average rate offered by UAE banks, without any lock-up period, the company said.