Blockchain.com is the most recent in a string of digital asset firms operating in the Gulf. The startup, which provides customers with a cryptocurrency wallet as well as a cryptocurrency exchange, announced on Friday that it has inked a deal with Dubai’s crypto authority.
The UAE has been pushing for the development of virtual asset regulation in order to attract new types of industry. Dubai, one of the UAE’s seven emirates and the region’s economic powerhouse, passed its first law governing virtual assets in March and formed the Virtual Assets Regulatory Authority (VARA) as the sector’s regulator.
The emirate has also given virtual asset licenses to crypto titans Binance and FTX since then.