The UAE’s Fast-Expanding Crypto, Blockchain Ecosystem Now Comprises 1400+ Stakeholders

The UAE’s Fast-Expanding Crypto, Blockchain Ecosystem Now Comprises 1400+ Stakeholders

The United Arab Emirates (UAE) has one of the fastest-growing cryptocurrency ecosystems in the world, home today to over 1,400 industry stakeholders comprising startups, professional services firms, academia and government offices that employ more than 7,000 people, a new report by Crypto Oasis says.

The Crypto Oasis Ecosystem Report 2022, an annual report by the industry trade group produced in partnership with Roland Berger, provides insights into the state of the crypto and blockchain industry in the UAE, delving into the sector’s dynamism and taking a deep look into some of the most notable blockchain initiatives and organizations.

According to the report, the UAE is home to a rich blockchain and crypto ecosystem comprising global protocols such as Bitcoin, Ethereum and Cardano, top exchanges like Binance, Kraken and Crypto.com, as well as Web 3.0 companies, decentralized finance (DeFi) startups, and non-fungible token (NTF) specialists.

In total, more than 140 crypto and blockchain companies and organizations have a presence in the country, data from the report shows, including 40 global protocols, 25 digital assets companies, 21 metaverse companies and 20 crypto exchanges. Other segments represented include NFT platforms, decentralized finance (DeFi) and Web 3.0.

These 140+ companies join the remaining 1,250+ industry stakeholders encompassing service