Dubai has new hub for crypto, blockchain technologies

Supplied

The Dubai Multi Commodities Centre (DMCC) has launched a new hub for businesses operating in the cryptographic and blockchain sectors.

The DMCC Crypto Centre offers a home to all types and sizes of crypto businesses, from companies developing blockchain-enabled trading platforms to firms offering, issuing, listing, and trading crypto assets.

It will also house a leading crypto advisory practice led by CV Labs, the entity behind the Switzerland government-backed Crypto Valley.

Crypto entrepreneurs and SMEs can also look forward to co-working spaces and a range of incubator and accelerator programmes at the facility, which is located in The Almas Tower.

DMCC has developed a  progressive and supportive regulatory environment for crypto firms operating in Dubai.

Activities conducted within the Free Zone that include the exchange of crypto assets will be regulated by the UAE’s Securities and Commodities Authority (SCA).

Crypto firms will also benefit from DMCC’s business regulatory framework, which increases the ease of doing business while upholding robust governance and transparency.

A blockchain is essentially a digital ledger of transactions that allows information to be recorded and distributed, but difficult to tamper with.

It's the technology behind cryptocurrencies like Bitcoin.

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 11:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • Lunch with Lloyd

    11:00am - 2:00pm

    No one knows entertainment better than veteran Dubai broadcaster Mark Lloyd.

On Dubai Eye

  • Helen's Postpartum Struggles

    Every weekday afternoon, Helen Farmer will help you to navigate the highs and lows of life in the UAE.

  • FARMER'S KITCHEN

    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!