Virtual Assets Abu Dhabi Startup News

Abu Dhabi Global Market (ADGM) has launched a cryptocurrency hub to support the development of virtual assets, blockchain technology, and crypto assets in the region. The centre will enable businesses to navigate the regulatory environment both within the UAE and globally, access market opportunities, and network with industry peers. “Given the rapid emergence of new virtual assets such as cryptocurrencies and other related assets, ADGM is leading the way to introduce progressive frameworks and regulations around these technologies and developments,” ADGM said in a statement on Wednesday.

The leading cryptocurrency exchanges move to the UAE The UAE is set to be the world leader in virtual assets with more startups being formed and moving to the country than ever. Abu Dhabi has multiple blockchain and FinTech startups, as does Dubai, which nabbed the biggest cryptocurrency exchange Binance in September of this year. Binance was granted a provisional license in March to operate in Dubai and approval to join the minimal viable product (MVP) program from Dubai’s Virtual Asset Regulatory Authority (VARA) in September.