Dubai has solidified its position as a leading city in the world of cryptocurrency, ranking second globally and first in the Middle East.
This marks Dubai’s status as a major hub and preferred destination for prominent fintech companies worldwide.
According to Adrian Martinez, Executive Marketing Director at Pocket Gamers, Dubai is the most crypto-ready city in the region and is second only to London on a global scale for 2023.
The emirate currently has over 772 cryptocurrency-based companies, offering exceptional job opportunities. Its favorable business environment continues to attract foreign investors to the area.
Martinez further emphasized that Dubai has successfully established itself as a significant financial technology center, attracting renowned and specialized companies.
UAE ranked third globally as the most attractive market for blockchain technology startups in 2022, hosting approximately 120 startups in this field.
The present Web3 economy in Dubai is paving the way for groundbreaking Web3 innovation. The city is constructing one of the largest and most vibrant technology hubs globally, leading advancements in this sector.
Dubai is the first and only city worldwide to implement a law regulating virtual assets. This safeguards investors, ensures economic security, and promotes market transparency.
Recognized by the Economist in 2022, Dubai’s leadership in Web3 technologies is expected to strengthen further in the coming years.