Dubai's DMCC launches Crypto Centre for new-gen asset and blockchain tech

Dubai: The Dubai free zone DMCC has launched a Crypto Centre exclusively meant for businesses operating in the cryptographic and blockchain spaces. Located at Almas Tower, it will help develop new technologies that can push the boundaries with this new-fangled assets and ways of transaction.

“Crypto and blockchain technologies have an enormous potential to transform global trade and supply chains,” said Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC. “This aligns perfectly with DMCC’s vision to drive the future of trade and is one of the key drivers behind launching the DMCC Crypto Centre

The DMCC Crypto Centre will also house the crypto advisory practice CV Labs, the entity behind the Switzerland government-backed Crypto Valley, which has previously spawned led to the formation of Cardano and Ethererum .

The Centre offers a home to all types and sizes of crypto businesses, from companies developing blockchain-enabled trading platforms, through to firms offering, issuing, listing, and trading in crypto assets.

DMCC already has a "supportive" regulatory environment for crypto firms operating in Dubai. Activities conducted within the free zone that include the exchange of crypto assets - and regulated by the UAE’s Securities and Commodities Authority (SCA). Crypto firms also have the safety net DMCC’s own regulatory framework, which increases the ease of doing business whilst upholding governance and transparency.