Web Desk
Dubai has solidified its position as a prominent city in the world of cryptocurrency, securing the second rank globally and claiming the top spot in the Middle East. This achievement cements Dubai’s status as a major hub and the preferred destination for renowned fintech companies from around the world.
According to Adrian Martinez, Executive Marketing Director at Pocket Gamers, Dubai stands out as the most crypto-ready city in the region and is second only to London on a global scale for the year 2023.
With more than 772 cryptocurrency-based companies operating within its borders, Dubai offers exceptional job opportunities. Its favorable business environment and supportive ecosystem continue to attract foreign investors to the region.
Martinez further emphasized that Dubai has successfully positioned itself as a significant financial technology center, drawing in renowned and specialized companies in the industry.
In 2022, the UAE ranked third globally as the most attractive market for blockchain technology startups, hosting approximately 120 startups in this field. This highlights the country’s commitment to fostering innovation and embracing emerging technologies.
Dubai’s present Web3 economy is leading the way for groundbreaking Web3 innovation. The city is actively constructing one of the largest and most vibrant technology hubs globally, spearheading advancements in this sector.
As the first and only city worldwide to implement a law regulating virtual assets, Dubai ensures investor protection, economic security, and market transparency. This proactive approach has been recognized by The Economist in 2022, further solidifying Dubai’s leadership in Web3 technologies, which is expected to strengthen even further in the coming years.
