Indian cryptopreneurs eye UAE

Indian cryptopreneurs eye UAE

Venture capital is making a big move on crypto in 2022 and investment totalled $10 billion globally in the first quarter of this year, according to data from Pitchbook.

Published: Sun 8 May 2022, 12:03 AM Last updated: Sun 8 May 2022, 12:06 AM

Dubai’s popularity as hot test-bed for innovation has managed to attract cryptopreneurs who are rushing to book their spot as the emirate offers abundant opportunities to set up a business and be the gateway to the global market. This has nudged Indian cryptopreneurs to expand their footprints too.

Jitendra Kale, crypto-analyst, AEDD-INRD, said: Indian crypto community plans to expand its foot print in the Middle East as Dubai is at forefront of crypto-related activities. Binance received in-principal approval from Abu Dhabi Global Market, since they have eyed Dubai for its global headquarters and its base. It is an extremely innovative approach from the Dubai government as it recognises that crypto is quite different from securities, digital tokens, and commodities and proposes a dedicated framework that can serve different parts of the value chain, manage risks, and support innovation.”

Venture capital is making a big move on crypto in 2022 and investment totalled $10 billion globally in the first quarter of