Future cryptocurrency capital?
The Dubai Multi Commodities Center (DMCC) has released data on the establishment of new cryptocurrency and blockchain enterprises in the emirate. The DMCC is one of the country’s major free zones. He has persistently courted businesses from a variety of international nations. The region is enjoying the benefits of its efforts.
Dubai Cryptocurrencies: A Quarterly Record for the DMCC
16% of the 655 new company registrations in the first quarter of 2022 in Dubai would concern crypto and blockchain companies, according to the Dubai Multi Commodities Center (DMCC).
According to the DMCC, this growth will occur after the opening of the DMCC Crypto, the zone’s crypto branch, in May 2021. The zone also had its highest first-quarter result since its inception in 2002, with 2022.
The DMCC specifically cited a rise in business creation from its key markets, which include India, the United Kingdom, Germany, and France, as compared to previous quarters.
All DMCC’s successful campaigns are showing his results.
The free zone is also drawing an increasing number of Chinese enterprises. The formation of corporations coming from this jurisdiction has increased by 34%. According to the DMCC, this growth is attributable to “major Mandarin engagement initiatives that take place around the country throughout the year, as well as its representative office in Shenzhen.”
The DMCC has also established particular market awareness activities in countries such as Israel and Turkey. These efforts appear to have been fruitful. Business registrations in these two countries surged by 350% and 100%, respectively.
Other nations, including Indonesia and Vietnam, have expressed growing interest in the area, according to the DMCC.