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UAE minister says $2 trillion virtual asset industry is here to stay
document.Image: Reuters
Global cryptocurrency platform crypto.com will open its regional headquarters in Dubai, a senior official said on Monday.
“We are opening our Middle East and Africa regional headquarters in Dubai. Running our business from here will be a great addition as the UAE is diversifying its industry and trying to be bold and create opportunities. Eric Anziani, COO of Crypto.com, said in a statement. “We’re here not only to gain more market share, but to create a broader ecosystem with more opportunities for all,” said Monday in a press conference at the World Government Summit.
The company, which has 10 million users and 3,000 employees, is currently looking for office space in Dubai, with the goal of hiring around 100 to 200 employees, including engineers.
“We’re already looking for an office in Dubai with 100 to 200 people, including those in compliance. We’re looking for the right licensing setup. There’s a lot of talent in Dubai that can support the operation,” he added.
“We are also mindful of the environmental impact the industry may have and are trying to develop technologies to reduce carbon emissions,” he added.
Earlier, crypto.com had signed an agreement with the inaugural Investopia Summit to be the exclusive cryptocurrency trading platform partner.
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“We are aligned with the Investopia Summit and the government’s vision in advancing the cryptocurrency agenda,” Anziani said.
Dr. Sani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, also spoke at the press conference and said that the virtual asset industry, which has already reached a $2 trillion market, will continue to exist, and the UAE aims to become The industry at the center of this new era.
“As the world continues to change rapidly, we are working to create the economy of the future and strengthen our position as a virtual asset hub. We see great potential in virtual assets, so we are building an ecosystem with robust regulations,” he added.
-waheedabbas@khaleejtimes.com
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