Curated News
By: NewsRamp Editorial Staff
May 07, 2024

Crypto Oasis Thrives: UAE Blockchain Ecosystem Sees Exponential Growth with 2,040 Active Organizations in Q1 2024

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Original Source

TLDR

  • The UAE blockchain ecosystem has seen a 13% increase in active companies, reaching 2,040 organizations, providing a competitive advantage for industry professionals.
  • The surge in companies and talent in the UAE blockchain space demonstrates the industry's robustness and innovation, attracting over 10,600 professionals to the ecosystem.
  • The growth of the UAE blockchain ecosystem makes the world a better place by fostering a vibrant and innovative environment, attracting talent and investment from across the globe.
  • The UAE blockchain ecosystem has become a premier destination for global blockchain discourse, hosting landmark events and attracting top global thought leaders.

Impact - Why it Matters

The UAE's exponential growth in blockchain organizations and workforce highlights its position as a global leader in blockchain innovation. This news is important for investors, entrepreneurs, and professionals in the blockchain space, as it signifies the region's commitment to fostering a vibrant blockchain and Web3 environment. The surge in companies and talent underscores the UAE's dedication to innovation and technological convergence, attracting global thought leaders and investment.

Summary

Crypto Oasis presented an update on the UAE blockchain ecosystem during the Dubai FinTech Summit 2024, revealing a 13.3% YoY increase in active companies, reaching 2,040. The UAE has become a hub for blockchain innovation, with over 10,600 professionals and a mix of native and non-native organizations contributing to the ecosystem. Major global names like Binance and OKX have received Virtual Asset Service Provider (VASP) licenses from VARA, driving regulatory clarity and industry growth.

Source Statement

This curated news summary relied on content disributed by News Direct. Read the original source here, Crypto Oasis Thrives: UAE Blockchain Ecosystem Sees Exponential Growth with 2,040 Active Organizations in Q1 2024

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