Ras Al Khaimah announces creation of free zone dedicated to digital and virtual asset companies

Ras Al Khaimah announces creation of free zone dedicated to digital and virtual asset companies

Ras Al Khaimah, United Arab Emirates: The Government of Ras Al Khaimah (RAK) has announced its intention to launch RAK Digital Assets Oasis, the world’s first free zone dedicated to digital and virtual asset companies. The announcement was made today at Blockchain Life 2023.

Commenting on the new free zone, Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK ICC and Chairman of RAK Digital Assets Oasis said: “We are proud to further the UAE's position as a primary destination for innovation with the launch of RAK Digital Assets Oasis. We are building the free zone of the future for the companies of the future. As the world's first free zone solely dedicated to digital and virtual asset companies, we look forward to supporting the ambitions of entrepreneurs from around the world with our progressive, supportive, and quick-to-adapt approach, and our innovation-enabling environment.”

Making the announcement, Dr. Sameer Al Ansari, CEO of RAK Digital Assets Oasis, said: “I am privileged to help implement the forward-thinking vision of the leadership of Ras Al Khaimah to enable, foster, and promote innovation in new and emerging sectors of the future. With the UAE’s established reputation as an innovation hub, RAK Digital Assets Oasis