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Blockchain companies represent 16% of free zone company registrations in the UAE during 2022

Blockchain companies represent 16% of free zone company registrations in the UAE during 2022

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Answer Blockchain companies represent 16% of free zone company registrations in the UAE during 2022

The Dubai Multi Commodities Center (DMCC), one of the largest free zones in the UAE, explained that 16% of the 655 new companies registered in the first quarter of 2022 were crypto and blockchain companies.

The DMCC attributed this increase in crypto and blockchain companies to the existence of the DMCC’s Crypto Center, which was launched in May 2021.

Ahmed bin Sulayem, CEO of DMCC, said, “The registration of 665 new companies in the first three months of 2022 is another DMCC record, and it works to demonstrate the huge potential offered when joining our Dubai Free Zone.”

Saleem added that DMCC will continue its efforts to attract ambitious companies that may be looking to establish in Dubai.

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Dubai continues the rapid transformation towards the digital market, as the Gulf emirate granted the global digital trading platform “Binance” a license to establish and operate virtual asset trading services, allowing it to operate in the Dubai Virtual Asset Market officially.

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