Dubai and the trend towards the cryptocurrency market…Accelerating steps to catch up with the summit
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Answer Dubai and the trend towards the cryptocurrency market…Accelerating steps to catch up with the summit
Dubai continues its rapid transformation towards the digital market. Last month, 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.
Emirati entrepreneur Adel Al-Zarouni, whom we met at the Metaverse symposium at the Sharjah Innovation, Research and Technology Park last Wednesday, revealed the launch of the first school in Dubai that accepts Bitcoin and Ethereum payments.
This step comes to catch up with the cafe opened by the “Pick N More” trading company, in Dubai last March, which became the first cafe to accept dealing with a large number of encrypted digital currencies, including Bitcoin, Ethereum, Solana, Sheba Inu and Tether.
Read:What does “green bitcoin” mean for the crypto mining industry?
And before that, last February, the “Rocket Kitchens” virtual restaurant chain unveiled its first cryptocurrency-inspired restaurant in Dubai, the restaurant that bore the name “Dog Burger” in reference to the currency to the cryptocurrency Dogecoin, and accepts payment of meal prices in several currencies. Digital, including Bitcoin, Ethereum, Ripple, Binance, and Sheba Inu.
Cryptocurrency-based projects continue in Dubai, as these two experiences were preceded by “The Pizza Guys” restaurant located in the “Business Bay” area in Dubai, which accepts digital currency “bitcoins” as a means of payment, as the restaurant owners believe that it will become a more payment method. Easy to use and negotiable.
Last March, Binance, the leading global provider of blockchain infrastructure and cryptocurrency, obtained a license to operate in Dubai, which allows it to operate its regional business from Dubai, and was preceded by the cryptocurrency exchange FTX, which also received a license to trade virtual assets in Dubai.
It is reported that the Dubai Multi Commodities Center (DMCC), one of the largest free zones in the UAE, had revealed that 16% of the 655 new companies registered in the first quarter of 2022 were crypto and blockchain companies.
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