Dubai has emerged as a hub for the crypto industry in recent years, with the government and private sector actively promoting the adoption of digital currencies and blockchain technology.
In 2021, the Dubai Financial Services Authority (DFSA) introduced a regulatory framework for crypto assets, making it one of the first jurisdictions in the Middle East to do so.
The framework covers the issuance, trading, and custody of crypto assets, and aims to provide clarity and protection for investors and businesses operating in the crypto space.
Dubai is home to several crypto exchanges, including BitOasis, Rain and Bitex UAE.
These exchanges allow users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum and Litecoin.
Dubai is also exploring the use of cryptocurrencies for payments.
In 2021, the Dubai Multi Commodities Centre (DMCC) launched a crypto trading platform called DMCC Crypto Centre, which allows businesses to trade in cryptocurrencies and settle transactions in fiat currency.
Dubai is actively promoting the use of blockchain technology across various sectors, including finance, real estate and healthcare.
The Dubai Blockchain Strategy aims to make the city a global leader in blockchain adoption by 2021.
Dubai’s business-friendly environment, tax incentives, and strategic location make it an attractive destination for crypto businesses and investors.
The Dubai government has also launched initiatives such as the Dubai Future Accelerators program, which aims to support startups and entrepreneurs working on innovative technologies such as blockchain and crypto.
Top crypto companies in Dubai
Dubai is one of the fastest-growing hubs for international trade and has become a big hub for crypto companies.
Some of the largest crypto companies in the world are now based in Dubai.
Crypto startups in the Middle East and North Africa (MENA) region are flocking to the city due primarily to its supportive regulatory environment, political stability and low taxation rates.
Its government is all-in on crypto too, with the Dubai Future Foundation and other regulatory bodies putting their full support behind initiatives to integrate blockchain technology into every facet of society.
Here are the top 10 crypto companies in Dubai;
1. BitOasis
BitOasis is a digital asset wallet and exchange platform that allows users to buy, sell, and store digital assets securely.
It was founded in 2014 and is one of the oldest and most established crypto companies in Dubai.
2. Palmex
Palmex is a cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies.
It was founded in 2017 and is one of the most popular crypto exchanges in Dubai.
3. Adab Solutions
Adab Solutions is a cryptocurrency exchange that is compliant with Islamic finance principles.
It was founded in 2018 and is one of the few crypto exchanges in the world that is Shariah-compliant.
4. ArabianChain
ArabianChain is a decentralized, public blockchain that is designed to support smart contracts and decentralized applications.
It was founded in 2016 and is one of the most innovative crypto companies in Dubai.
5. TaskCoin
TaskCoin is a decentralized platform that provides users with an easy and fun way to earn digital crypto currency.
It was founded in 2022 and is one of the newest crypto companies in Dubai.
6. Bancambios Academy
Bancambios Academy offers Interactive Certified Blockchain, Education related to DeFi, NFT, GameFi courses for individuals and institutions globally.
It was founded in 2021 and is one of the most innovative crypto education companies in Dubai.
7. Verify
Verify is a blockchain-based platform that provides secure and transparent identity verification services.
It was founded in 2018 and is one of the most trusted crypto companies in Dubai.
8. Arabian Bourse
Arabian Bourse is a digital asset exchange that allows users to trade cryptocurrencies, commodities, and other assets.
It was founded in 2019 and is one of the most innovative crypto exchanges in Dubai.
9. BitPado
BitPado is a cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies.
It was founded in 2017 and is one of the most popular crypto exchanges in Dubai.
10. Emcredit
Emcredit is a government-backed initiative that is designed to create a digital currency for Dubai.
It was founded in 2017 and is one of the most innovative crypto initiatives in Dubai.