DMCC launches crypto centre to aid cryptography & blockchain tech firms

By Shilpa Annie Joseph, Official Reporter
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DMCC Crypto Centre
Government officials and business leaders attending the launching function of the DMCC Crypto Centre.

UAE-based commodity marketplace Dubai Multi Commodities Centre (DMCC) has launched the DMCC Crypto Centre, a comprehensive ecosystem for companies working in the cryptographic and blockchain sectors.

The DMCC Crypto Centre, which is located in the state-of-the-art Almas Tower, will serve as a centre for the development and application of crypto and blockchain technologies. From companies building blockchain-enabled trading networks to firms selling, issuing, listing, and trading crypto assets

According to the company statement, “The DMCC Crypto Centre will also house a leading crypto advisory practice led by CV Labs, the entity behind the Switzerland government-backed Crypto Valley, which has previously spawned Crypto leaders such as Cardano and Ethererum.”

The DMCC Crypto Centre will provide crypto entrepreneurs and SMEs with co-working spaces as well as a variety of incubator and accelerator programs, all within the DMCC’s vibrant Jumeirah Lakes Towers district in the core of Dubai.

Ahmed Bin Sulayem
Ahmed Bin Sulayem
Executive Chairman & CEO

“Crypto and blockchain technologies have an enormous potential to transform global trade and supply chains. This aligns perfectly with DMCC’s vision to drive the future of trade and is one of the key drivers behind launching the DMCC Crypto Centre. With a progressive and supportive regulatory environment, a strong pool of industry talent, and an ecosystem that provides access to capital, resources, and opportunities to crypto firms, the DMCC Crypto Centre is perfectly placed the support crypto businesses and advance global trade.”

“With initiatives such as the Dubai Blockchain Strategy, Dubai’s government is leading the adoption and application of blockchain technologies, creating a business-friendly environment for crypto firms and cementing the emirate’s reputation as a global technology leader,” he further added.

DMCC has collaborated to create a strong, progressive, and welcoming regulatory climate for crypto firms operating in Dubai. Activities conducted within the Free Zone that include the exchange of crypto assets will be regulated by the UAE’s Securities and Commodities Authority (SCA).

Crypto companies can also benefit from the DMCC’s market regulatory structure, which makes doing business easier while maintaining strong governance and accountability.

Mr. Ralf Glabischnig, Founder of CV Labs & CV VC said, “With strong backing from the government as well as great interest from its flourishing business sectors, Dubai is poised to emerge as a global hotspot and leader for innovative blockchain companies and applications. Together with DMCC, we will be responsible for developing and managing the ecosystem in the UAE with its heart at the DMCC Crypto Centre”

“We will offer a variety of services including incubation and investment opportunities for early-stage startups, innovation services for corporate clients, educational events for Blockchain and entrepreneurship as well as advisory services to assist Crypto/DLT startups establish themselves in the UAE and grow within our strong ecosystem,” remarked Mr. Glabischnig.

Related: DMCC plans to turn Dubai into international cacao trade hub