Dubai authorities recently announced that Dubai World Trade Centre (DWTC) will soon become a comprehensive zone and regulator for crypto–including cryptocurrencies, crypto-related products, operators, and exchanges.
The new initiative will see the government-owned event and exhibition venue in Dubai transform into a crypto hub–set to further local development and adoption.
Leveraging a comprehensive ecosystem
“The Dubai World Trade Centre will be designing a comprehensive ecosystem for this progressive sector within Dubai,” read the announcement.
The initiative includes creating a framework for innovative financial products, the announcement added, aligning it with the efforts to further the adoption of new trends which “rely on advanced underlying blockchain technology, such as non-fungible token (NFT) and cryptocurrencies.”
The new crypto zone will be developed through DWTC’s collaboration with the private sector and relevant entities in Dubai–in a bid to accelerate D
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