Dubai might Become the World’s Crypto Capital

With the help of Binance, Dubai might become the World’s Crypto Capital. Let us find out everything about this.

Introduction

Dubai is arguably one of the most famous cities in the Middle East. The tall skyscrapers and lavish lifestyle give us a glimpse of the wealth that the Country, UAE has accumulated in the past few prosperous years.

Also, Dubai is famous for its worker-friendly work environment. Dubai recently became the first country in the world to embrace a 4-day workweek.

But now, Dubai is taking some serious interest in Cryptocurrencies. Dubai will be getting Crypto zones all over the city very soon. The Dubai World Trade Centre will also establish a specialised Crypto zone.

Dubai and Cryptocurrencies

UAE is taking a keen interest in Cryptocurrencies, going as far as investing in industries related to Cryptocurrencies. Binance has been in talks with the UAE authorities about this idea.

UAE is already working on a special crypto zone in the Dubai World Trade Centre. Here all companies that deal with digital assets can now offer their products and services. Additionally, the Dubai World Trade Centre will act as a regulator for Cryptocurrencies.

Dubai’s official announcement reveals that the city has an idea to further develop its virtual assets space as the Metaverse gains traction. Additionally, NFTs can be used to provide proof of ownership of land and other goods in the future. All of it will be backed by Blockchain Technology.

Binance’s involvement

Binance is the market leader of Crypto exchanges. Based on value, it is the biggest digital asset exchange in the world. Now, Binance is looking for a good place to set up its headquarters. The potential location for Binance’s headquarters is speculated to be either Dubai or Abu Dhabi.

Also, the governing body of DWTC had a signing of a memorandum of understanding (MoU) with Binance. The MoU took the help of Binance to share its experience with the Authorities of UAE.

Conclusion

With the help of Binance, Dubai might become the World’s Crypto Capital. The UAE is also taking a keen interest in Cryptocurrencies and is working restlessly for a better future. Hopefully, this vision might become a reality sooner than ever.

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