Latest news with #VirtualAssetsRegulatoryAuthority
Arabian Post
6 days ago
- Business
- Arabian Post
Dubai Welcomes Bitcoin.com to DMCC Crypto Centre
has established its first Middle East and North Africa regional headquarters at Dubai's DMCC Crypto Centre, signalling a strategic expansion in the emirate's blockchain ecosystem. The move secures its place among over 650 companies specialising in blockchain infrastructure, decentralised finance, tokenisation and metaverse development within the DMCC's Crypto Centre in Uptown Tower. Dubai's position as a global cryptocurrency hub is underscored by the establishment of the Virtual Assets Regulatory Authority, the world's first independent virtual‑assets regulator, which has brought clarity and security to crypto firms operating in the region. The emirate's tax‑friendly environment and global connectivity further enhance its appeal to Web3 companies. Belal Jassoma, director of ecosystems at DMCC, emphasised the strategic significance of the addition: ' decision to establish its regional headquarters within our community highlights the global pull of the Crypto Centre and the scale of opportunity that Dubai represents today'. His remarks reflect DMCC's focus on facilitating access to markets, capital, mentorship and international collaboration across its ecosystem of more than 25,000 businesses — of which around 3,200 are tech‑focused, 800 in blockchain, gaming or AI. ADVERTISEMENT Corbin Fraser, CEO of praised Dubai's 'clear and progressive regulations, a fast‑track licensing process and a genuine appetite for innovation', calling the emirate 'one of the most welcoming environments in the world for Web3 companies'. He stressed that DMCC's world‑class infrastructure and thriving crypto ecosystem provided a robust foundation for regional growth. renowned for its cryptocurrency news, education and self‑custodial products, intends to leverage its presence in Dubai to engage more deeply with the MENA crypto community and contribute international expertise to its development. The company joins a cluster of major global crypto players already based in DMCC, reinforcing Dubai's rising status in blockchain innovation. Dubai's crypto ascent began with VARA's launch, which set a global precedent with an independent regulatory framework for virtual assets. The authority, alongside Dubai's broader policy ecosystem, aims to ensure regulatory clarity, speed and security — elements essential for attracting and retaining crypto enterprises. This framework, combined with zero personal income tax and strategic global links, positions Dubai as an increasingly attractive base for Web3 firms. The DMCC Crypto Centre itself provides an integrated support system: from licensing and legal assistance to accelerator programmes, capital access, mentoring and partnership opportunities with established global Web3 entities. Beyond the Crypto Centre, DMCC also hosts dedicated hubs for gaming and artificial intelligence, fostering interdisciplinary tech growth within its broader community. By situating its regional office in Uptown Tower, directly taps into Mesopotamia's largest blockchain cluster. Its move exemplifies Dubai's rapid ascent from an emerging player to a central node in the global digital‑assets network, with momentum driven by regulatory foresight, economic incentives and aggressive ecosystem-building.
Arabian Post
05-06-2025
- Business
- Arabian Post
Sui and VARA Forge Alliance to Propel Dubai's Crypto Startups
Dubai's Virtual Assets Regulatory Authority has entered into a strategic partnership with SuiHub MENA, the regional arm of the Sui blockchain ecosystem, to bolster the emirate's position as a global hub for virtual assets. The collaboration aims to support emerging startups, nurture local talent, and provide regulatory guidance within the blockchain sector. The agreement, formalised earlier this week, outlines a multifaceted approach to ecosystem development. Key initiatives include jointly hosted workshops to assist startups in navigating Dubai's licensing regime, educational programs to cultivate local expertise in blockchain technology, and the establishment of advisory sessions to offer compliance support. These efforts are designed to streamline the path to market for new ventures and enhance the overall maturity of the virtual asset landscape in the region. SuiHub MENA's innovation centre in Dubai will serve as the focal point for these activities, with VARA providing strategic support through roundtables and engagements with government stakeholders. The partnership also encompasses collaborative research opportunities aimed at informing future virtual asset policies and contributing to the sustainable growth of the sector. ADVERTISEMENT This alliance follows a similar memorandum of understanding signed between VARA and the Solana Foundation, reflecting Dubai's commitment to fostering a conducive environment for blockchain innovation. By aligning regulatory clarity with technological advancement, these partnerships underscore the emirate's proactive stance in embracing the potential of virtual assets while ensuring robust governance frameworks are in place.
Arabian Post
03-06-2025
- Business
- Arabian Post
Solana and Dubai Forge Strategic Blockchain Alliance
Solana Foundation has formalised a partnership with Dubai's Virtual Assets Regulatory Authority , marking a significant step in integrating blockchain innovation within the emirate's regulatory framework. The Memorandum of Understanding , signed on 3 June 2025, outlines collaborative initiatives aimed at fostering a robust crypto ecosystem in Dubai. Central to this alliance is the establishment of the Solana Economic Zone in Dubai, envisioned as a hub for developers, entrepreneurs, and startups operating on the Solana blockchain. This zone is designed to provide access to Dubai's progressive regulatory environment, including sandboxes and talent networks, positioning the city as an attractive destination for international Web3 projects. The partnership encompasses talent development programs, regulatory workshops, ecosystem research, and market insight sharing. Solana Foundation and VARA plan to co-host events, offer policy guidance, and support Solana-based startups in or relocating to Dubai. An integral component of the agreement is the sharing of anonymised data to evaluate the impact of digital assets on employment and economic growth within the UAE. ADVERTISEMENT Lily Liu, President of Solana Foundation, emphasised the strategic importance of this collaboration, stating that it represents a new chapter for Solana in the MENA region. She highlighted Dubai's leadership in regulating and fostering digital assets, noting that the partnership bridges builders and regulators in one of the fastest-growing crypto hubs globally. Henson Orser, CEO of VARA, welcomed the collaboration, reinforcing the authority's commitment to building a future-forward economy powered by innovation, trust, and inclusion. He acknowledged the potential of the Solana Economic Zone to attract international projects seeking to scale operations under a progressive regulatory framework. The announcement has had a positive impact on Solana's market performance. Following the news, the SOL token experienced a modest increase, trading around $160, with a 4% rise observed on the day of the announcement. Market analysts interpret this as a bullish signal for Solana's long-term outlook, reflecting growing confidence in the ecosystem and broader adoption.
Hi Dubai
30-05-2025
- Business
- Hi Dubai
Dubai Land Department Launches World's First Property Token Ownership Certificate
Dubai has cemented its status as a global pioneer in real estate innovation with the launch of the world's first Property Token Ownership Certificate, following the successful debut of a tokenized real estate project on the Prypco Mint platform. Licensed by the Virtual Assets Regulatory Authority (VARA), Prypco Mint saw its inaugural property token offering sell out within just one day. The launch drew 224 investors, 70% of whom were first-time entrants to Dubai's real estate market, reflecting strong interest in low-barrier, digitally driven ownership models. Investors hailed from 44 nationalities, with the average investment amounting to AED10,714. The initiative is part of the Dubai Land Department's Real Estate Tokenization project, developed in collaboration with VARA, the Central Bank of the UAE, and Dubai Future Foundation under the Real Estate Sandbox framework. It aims to make property investment more accessible, transparent, and efficient, in line with the Dubai Real Estate Strategy 2033 and the Dubai Economic Agenda D33. The response has been overwhelming, with a waitlist now exceeding 6,000 potential investors, underlining the growing global appetite for digital property assets. The department is also working to onboard real estate developers onto the platform, expanding the scope of tokenized investment opportunities. This move not only diversifies Dubai's investor base but also signals a shift toward a more inclusive, tech-enabled real estate market. News Source: Emirates News Agency
The National
29-05-2025
- Business
- The National
Dubai's first tokenised property project sells out on launch day with 224 investors
Dubai's first tokenised property project sold out within a day of its launch, attracting 224 investors, with 70 per cent of them entering the emirate's real estate market for the first time. The individual investors, representing 44 nationalities, paid Dh10,714 ($2,917) each on average for the tokenised shares in ready-to-own properties, the Dubai Land Department said in a statement on Thursday. 'As the region's first platform of its kind, the initiative continues to draw significant interest, with the waiting list exceeding 6,000 requests,' the government body said. 'This surge in demand reflects Dubai's growing appeal to new segments of global investors seeking innovative and accessible property ownership models.' The DLD developed the project in collaboration with the Virtual Assets Regulatory Authority, the Central Bank of the UAE and the Dubai Future Foundation through the Real Estate Sandbox. It is being executed through Prypco Mint. Currently, only Emirates ID holders will be able to invest in the project before it opens up to international investors in the 'near future, with additional platforms to be integrated in later phases', the DLD said during the official launch of the pilot phase on May 25. The initiative aims to broaden the real estate investor base while improving transparency and accelerating transaction processes. The project offers investment opportunities through the purchase of tokenised shares in ready-to-own properties in Dubai, starting from Dh2,000. All transactions are carried out exclusively in UAE dirhams, with no use of cryptocurrencies during the pilot phase, the DLD had said. Through the platform, investors can access all the property details, including pricing, risk factors, and technical specifications. DLD is currently working to allow real estate developers to list their projects on the platform, further expanding the initiative's scope and unlocking opportunities for digital property investment, it said on Thursday. The project, announced in March, focuses on converting real estate assets into digital tokens recorded on blockchain, helping to streamline the process of buying, selling and investing. Real estate tokenisation enables fractional property ownership, where each asset is divided into shares based on investors' budget and financial strategy. This allows investors to acquire a portion of a property without fully purchasing it. Dubai's real estate tokenisation market is forecast to reach Dh60 billion by 2033, representing 7 per cent of the emirate's total property transactions, according to government data.
