Dubai World Trade Centre and Binance to establish hub for global virtual assets – The National

Dubai World Trade Centre and Binance to establish hub for global virtual assets – The National

The Dubai World Trade Centre Authority and Binance, the world's largest cryptocurrency exchange by trading volumes, signed a preliminary agreement to develop an industry hub for global virtual assets in the emirate, aimed at accelerating their adoption.

The initiative will help expedite Dubai’s plans to establish a new international virtual asset ecosystem, which in turn would generate long-term economic growth using new-age digital innovations, Dubai World Trade Centre said on Tuesday in a statement released by Dubai Media Office.

The development comes a day after the DWTC said it will be setting up a specialised crypto zone, becoming a regulator for virtual assets and cryptocurrencies, including digital assets, products, operators and exchanges, as adoption of such investments picks up pace in the emirate.