Crypto landscape in UAE fastest growing in the world

Crypto landscape in UAE fastest growing in the world

The epicenter of the ecosystem - the Dubai Multi Commodities Center - now hosts more than 230 Blockchain-specific organisations

Published: Thu 10 Mar 2022, 6:47 PM Last updated: Thu 10 Mar 2022, 7:13 PM

The UAE and Middle East region has officially connected to the global Blockchain ecosystem in a way that expresses community and embodies excellence, experts said at a press conference by Crypto Oasis on Thursday.

The ecosystem in the UAE builds on the foundations set into motion back in 2016 by the Dubai Blockchain Strategy under the Dubai Future Foundation. Proponents of Crypto Valley in Switzerland, one of the world's leading Blockchain ecosystems, formed a collaboration with the Dubai Multi Commodities Center (DMCC) in January 2020 during the World Economic Forum in Davos. Following this, May 2021 saw the launch of the DMCC Crypto Centre.

Speaking to Khaleej Times, Ralf Glabischnig, founder of the Crypto Oasis, said: "I would describe the crypto landscape in the UAE and Middle East region as the fastest growing ecosystem worldwide. There is a huge opportunity which has accelerated during the pandemic. Over the past two years, everyone who had an interest in blockchain and crypto, came to Dubai to explore the landscape and ended up