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Crypto professionals reveal key trends in the UAE’s blockchain and crypto hub. #cryptonews - The United Arab Emirates (UAE) is positioning itself as a global hub for blockchain and cryptocurrency innovation, with key trends emerging in Shariah-compliant services, dirham-pegged stablecoins and international talent migration, according to industry leaders. At the recent Bitcoin MENA and Abu Dhabi Finance Week events held in the UAE, crypto professionals discussed the key trends […] https://lnkd.in/dZjEgCmz

In recent years, Dubai has solidified its position as a global hub for cryptocurrency companies, outpacing traditional centers like Switzerland and Singapore. Central to this transformation is the DMCC Crypto Centre, situated within the Dubai Multi Commodities Centre (DMCC), one of Dubai’s economic free zones.

Cryptocurrencies, powered by blockchain technology, are reshaping finance by enabling decentralized, transparent, cross-border transactions. This article, by Matteo Portello, explores how digital assets like Bitcoin and Ethereum have become key tools for high-net-worth individuals (HNWIs) to diversify portfolios and support capital growth. Additionally, startups are increasingly using Initial Coin Offerings (ICOs) and Security Token Offerings (STOs) to access global liquidity, supported by crypto-friendly jurisdictions like Singapore and the UAE. As institutions adopt crypto, it’s clear that these assets are becoming integral to modern wealth management and entrepreneurship. 1️⃣ Capital and Business Model Innovation: Initial Coin Offerings (ICOs) and Security Token Offerings (STOs) allow entrepreneurs to raise money globally, without the need for traditional financial intermediaries and with decentralized business models.  2️⃣ Portfolio Diversification for HNWIs: Cryptocurrencies such as Bitcoin and Ethereum are being included in the portfolios of high net worth individuals (HNWIs) as a means of diversification, wealth preservation and hedge against traditional market volatility.  3️⃣ Crypto-Friendly Jurisdictions and Mobility: Crypto friendly tax policies and regulatory clarity have made countries like Singapore, UAE and Malta attractive hubs for HNWIs, leading to crypto friendly tax policies and regulatory clarity have made countries like Singapore, UAE and Malta attractive hubs for HNWIs, leading to digital wealth migration and flexible cross border financial strategies. For a deeper dive into these shifts, read the full publication here: https://lnkd.in/en7uQ_xt    #Economics #Cryptocurrency #Investment #Bitcoin #Entrepreneurship

Cryptocurrencies are revolutionizing the way we think about transactions and investments, offering secure, decentralized alternatives to traditional financial systems. As trust in digital assets grows, Bitcoin and Ethereum have emerged as pioneers, leading this shift with their highly secure, encrypted transaction networks that eliminate the need for third-party intermediaries. One of the most exciting developments in the cryptocurrency space is its application in real estate, particularly in Dubai. Known for its ambitious adoption of new technologies, Dubai is now allowing property purchases through cryptocurrencies like Bitcoin. This breakthrough gives buyers unprecedented control over their real estate assets, enabling fast, cross-border transactions with the potential to bypass complex financial regulations. This trend isn't just a passing novelty; it's gaining serious traction. As more property developers and investors realize the benefits of digital currency in streamlining property transactions, Dubai is positioning itself as a prime market for crypto-based real estate investments. The city's forward-thinking approach is setting a new standard, offering crypto investors the unique opportunity to diversify their portfolios with tangible assets in a global hub. In essence, cryptocurrency is transforming the future of property ownership, and Dubai is at the forefront of this thrilling evolution.

🌍💼 Dubai and Hong Kong are teaming up to explore crypto cross-border business opportunities! A new era for global crypto collaboration is on the horizon. 🚀💱 👇 Read More #Crypto #Dubai #HongKong #Blockchain #Business

Bitcoin has made up 70% of UAE investors' gains in crypto in 2023. “Chainanalysis was able to identify Bitcoin (BTC) as the cryptocurrency of choice for UAE investors.” This trend signals the region's increasing focus on proven digital assets as the UAE continues to position itself as a leader in digital finance. According to Kim Grauer: "The community is clearly backing well established digital assets with steady and proven performance, rather than backing more speculative cryptocurrencies." P.S: Will this trend shift by the end of 2024? Or will the halving affect these dynamics for the coming few years to come? Source:

Singapore emerges as Asia’s leading crypto hub. Singapore is rapidly cementing its position as Asia’s premier cryptocurrency hub, driven by its innovation-friendly and risk-adjusted regulatory framework. In 2024, the city-state issued 13 Major Payment Institution (MPI) licenses for crypto exchanges, more than double the number granted in 2023. This proactive regulatory approach is attracting Web3 companies and top talent from across the globe. #Secret3 #cryptonews #web3 #blockchain #cryptocurrency Read more: https://lnkd.in/gh7yfF9A

Countries With the Highest Rates of Crypto Ownership This graphic ranks the top 10 countries by their rate of cryptocurrency ownership, which is the percentage of the population that owns crypto. These figures come from crypto payment gateway, Triple-A, and are as of 2023. Data and Highlights Note that if we were to rank countries based on their actual number of crypto owners, India would rank first at 93 million people, China would rank second at 59 million people, and the U.S. would rank third at 52 million people. The UAE Takes the Top Spot The United Arab Emirates (UAE) boasts the highest rates of crypto ownership globally. The country’s government is considered to be very crypto friendly, as described in Henley & Partners’ Crypto Wealth Report 2023: In the UAE, the Financial Services Regulatory Authority (FSRA-ADGM) was the first to provide rules and regulations regarding cryptocurrency purchasing and selling. The Emirates are generally very open to new technologies and have proposed zero taxes for crypto owners and businesses. Vietnam leads Southeast Asia According to the Crypto Council for Innovation, cryptocurrency holdings in Vietnam are also untaxed, making them an attractive asset. Another reason for Vietnam’s high rates of ownership could be its large unbanked population (people without access to financial services). Cryptocurrencies may provide an alternative means of accessing these services without relying on traditional banks.

The Middle East and North Africa (MENA) region is quietly becoming a global contender in the cryptocurrency world, securing the seventh-largest spot in the market by 2024. With $338.7 billion in on-chain value received between July 2023 and June 2024, MENA accounts for 7.5 per cent of the world’s total transaction volume.