Crypto Trading, Payments and Block-chain Technology adoption are growing in the Middle East especially in the United Arab Emirates as the UAE launched the first Crypto Hub in the region. As the digital economy grows, using crypto as a medium of exchange is a no-brainer. Like all businesses that started using the internet 20 years ago, everyone is starting to use cryptocurrency nowadays. Many Free Zones in the UAE are now offering Crypto, blockchain, and NFTs activities such as:
- Distributed Ledger Technology Services
- Proprietary Trading in Crypto-commodities
- NFTs E-Marketplace Provider
- Metaverse Service Provider
What Is an NFT?
An NFT is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos (Blockchain Technology). NFTs are one of a kind, or at least one of a very limited run, and have unique identifying codes that make them unique.
We have many Free Zones in the UAE offering Crypto solutions like IFZA (International Free Zone Authority – Dubai Silicon Oasis), DMCC (Dubai Multi Commodities Centre – JLT), and Meydan Free Zone (Meydan).
Dubai, one of the UAE’s seven emirates and the region’s trade hub, and the most famous emirate issued its first law governing virtual assets and formed the Virtual Asset Regulatory Authority (VARA) to oversee and regulate the sector. The new law will apply throughout Dubai except for the state-owned financial free zone DIFC. DIFC’s regulator, the Dubai Financial Services Authority (DFSA), is working on its own regulation for the virtual asset sector.
Many crypto exchange firms moved to the UAE during the last 2 years and they have received their license from DFSA (Dubai Financial Services Authority) and DIFC (Dubai International Financial Center) and also ADGM (Abu Dhabi Global Market) like
Binance, Bybit, and Crypto.com
Please email us at info@freezonemarket.ae or call us at +971 4 876 9890 to receive our quotation for cryptocurrencies and NFTs company registration with the total expected cost.
Crypto company and bank account opening
The challenge now is to open a bank account in the UAE local banks for any cryptocurrency related activities is still complicated. Many banks located in Europe and Asia are offering account-opening services for UAE companies with crypto activities. Please contact us for more details: info@freezonemarket.ae or call us at +971 4 876 9890 or visit our page https://freezonemarket.ae/banks/ and select the package for bank account assistance.
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