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Coinweb and its group company Onramp already have 7 digital asset licenses and licenses.
Toby Gilbert. — photos provided
In an exclusive interview with Khaleej Times, Coinweb’s CEO and co-founder Toby Gilbert said that Coinweb has a firm roadmap for establishing operations in the UAE and Saudi Arabia in the first half of 2023.
“Consistent with the UAE’s efforts to become a world-class financial center, its cryptocurrency policy is a testament to the government’s forward thinking. This is thanks to the country’s power structure, with decisions made at the top, allowing policies to be formulated and implemented far faster. Faster than the rest of the world, these countries are still working to introduce a robust framework that will give digital asset businesses the confidence to invest and build,” Gilbert said.
“A clear indicator of how successful this policy has been so far is not only the quality of crypto activity offered in Dubai, including the next Satoshi Nakamoto Roundtable in February 2023, but also the world’s largest crypto exchange, whose Most of the business is located in – countries including Binance, FTX and Bybit.”
Coinweb and its group company Onramp already have no less than 7 digital asset licenses and licenses worldwide, including Canada, Singapore, United Kingdom, Ireland, Poland, Lithuania and Estonia.
“Dubai is the natural next step to apply to the Dubai Virtual Assets Regulatory Authority (VARA), which enables enterprise businesses and blockchain ecosystem projects to build on the UAE’s Coinweb protocol, ensuring liquidity through fiat issuance. Once we ‘s core product launches in Q4 2022, and we will also actively participate in various local summits and events,” added Gilbert.
Cryptocurrencies are visible to the public driving adoption as the regulatory framework gives builders confidence in the UAE (and the wider region). — sandhya@khaleejtimes.com
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