Dubai has been synonymous with forward-looking investment opportunities for decades. The city has become an international brand associated with property and finance, and most recently exploded onto the world stage for those looking to invest in cryptocurrency during the 2020 to 2021 Bitcoin bull run.

The coin that started it all surged to an all-time high of $69,045 on November 10^th 2021 and crypto investors and influencers have been flocking to the region ever since.This influx of interest has also been supported by the growing availability of trading apps that facilitate participation in the crypto market.

Dubai: an early adopter of blockchain technology

The history of the UAE's vision of the future for blockchain begins as far back as 2016 when the Dubai Blockchain Strategy was formulated under the auspices of the Dubai Future Foundation.

The Dubai Multi Commodities Center (DMCC) was launched in May 2021 at the height of the bull run. Despite the crash that followed one year later, savvy investors, entrepreneurs, and key Dubai government officials have forged ahead, taking the long view of the space.

Dubai: Regional hub for virtual assets

A 2022 report from Chainalysis likewise revealed that the MENA region grew more than any other between July 2021 and June 2022 with a total of $566 bn in cryptocurrency transactions taking place. This is a full 48% increase from the year-on-year total of $272 bn. 

This growth has led to the authorities in Dubai acting to further regulate the space to facilitate startups, entrepreneurs, and existing businesses moving into the field as well as both institutional and retail investors looking to capitalize on future growth.