In the photo from left to right: Saif Al Mansouri – CEO TRES OTC DMCC; Ahmed Bin Sulayem – Executive Chairman and Chief Executive Officer of DMCC; Dmitry Krasnogor – Managing Director TRES OTC DMCC; Antony Katin – CEO SIMBA Storage; Alexey Liakhovnenko – CEO TRES Group GmbH.
Back in 2020, at the Davos summit, the DMCC (UAE Free Economic Zone) announced a strategic partnership with CV VC and CV Labs Launch of Crypto Valley, the world’s largest ecosystem for cryptography, blockchain and distributed ledger in Dubai.
More and more countries are adopting cryptocurrencies after long resistance. The UAE is rightly one of the most progressive countries of the last decades, which after long denials and misunderstandings does not stand still and sees a perspective in the development of the cryptocurrency industry within the country.
The cryptocurrency industry has already shown its strength and serious intentions to conquer and improve the whole world. The capitalization of cryptocurrencies is growing every year and the acceptance of the industry continues to develop rapidly.
Recently the official opening of the Crypto Valley in Dubai took place and active work began, the Swiss company TRES group, the developer of SIMBA storage, obtained a crypto-asset trading license for over-the-counter transactions in cryptocurrencies to develop the crypto industry in the United Arab Emirates. So far it is the first but not the last license in the country.
“We have seen time and time again that innovation has been driven by world-class support, be it incubator and accelerator programs for SMBs or enterprise-friendly environments, specialized licensing options, and advanced regulations for larger multinational companies. The DMCC Crypto Center, operated in partnership with CV Labs, accomplishes just that – a comprehensive ecosystem that fully supports all types and sizes of companies operating in the crypto sector.
Two of our main goals for the Crypto Center are to facilitate innovation in the blockchain and crypto space and to drive global adoption of the technology. With a number of industry leaders at the Crypto Center, advanced regulations from Dubai authorities and the DMCC’s pre-existing supporting framework, we expect Dubai to be the place where any crypto company looks for growth opportunities. As Ralf Glabischnig, the founder of CV Labs, put it at the start of the Crypto Center, the DMCC Crypto Center is well positioned to become the largest crypto ecosystem in the world. “, – Ahmed Bin Sulayem – Executive Chairman and Chief Executive Officer of DMCC.
“The global cryptographic industry, while still in its infancy, has great potential to the extent that it is likely to positively transform every industry and sector. As noted in our recent Future of Trade report, trade experts and business leaders from around the world believe that digital infrastructure, and especially blockchain and other crypto technologies, will play an increasingly important role in the future of world trade.
Dubai has become synonymous with innovation and the emirate has certainly embraced the adoption of blockchain technologies. With government-led initiatives like the Dubai Blockchain Strategy promoting blockchain use wherever possible in the public and private sectors, Dubai is showing how blockchain can offer a variety of benefits. Through the DMCC Crypto Center, the UAE is clearly taking the lead in developing the global crypto industry. ”, – Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC
Previously, the cryptocurrency trading license in the UAE was illegal and inaccessible, imposing a number of restrictions on large banking and institutional structures willing to conduct cryptocurrency activities in the country.
The crypto assets trading license is a huge step in the development and formation of the blockchain technology industry, business development, inflow of technological projects and startups, and money supply for the country. The license to trade in crypto assets opens up opportunities for large institutional investors and banking structures in the crypto industry that were previously not available to them. This will bring about an increase in the capitalization of the entire cryptocurrency market.
“The DMCC Crypto Center ecosystem is the newest business community focused on the crypto and blockchain sector in the DMCC Free Zone Dubai. It provides the perfect landing for any business focused on a wide variety of areas in this booming innovative technology sector, offering a full range of support, products and services including the first industry-focused coworking accelerator area, CV Labs. It’s great to see companies like TRES stepping into the DMCC crypto community and taking full advantage of the Free Zone. Dubai is fast becoming the center of the global crypto world and for good reason. “, – says James Bernard, Director Sales / Business Development & Head of Corp Sales at DMCC.
TRES specialists highlight the great prospects for the development of the cryptocurrency industry in the Arab countries, which also result from the global change in guidelines, especially in relation to technology.
SIMBA CEO Anton Katin draws analogies and mentions the widespread transition to electric cars, solar energy and the desire of many countries to break away from the usual consumption patterns, import and export of non-renewable resources.
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