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Dubai Business Explosion in 2023: Free Zone Includes More Than 500 Crypto Startups

09 Mar, 2023
Dubai Business Explosion in 2023: Free Zone Includes More Than 500 Crypto Startups
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Crypto and Bitcoin are vital words that we’ve heard for the past few years, and we’ll definitely continue to hear them in the future as well. The latest technology that lies behind crypto, the blockchain, is used in all sorts of businesses, and all firms and companies that want to be a part of the future will have to hop on the wagon of innovation if they want to succeed.

Crypto means financial freedom, and everyone who’s been a part of this world, especially during the past few years, already knows this and is aware of the massive importance that this has for one’s life. Dubai understands the importance of crypto and the blockchain, and this is the main reason why UAE is open to the latest tech and fully embraces it.

Dubai managed to become in the past few years, one of the most important hubs in the world regarding tourism, real estate, and crypto as well. The city is a dedicated hub to all crypto lovers, and it seems that according to the latest reports, the city managed to attract twice as many digital asset startups in 2023 compared to the previous year.

 Also Read: Buy Property With Crypto

Dubai’s crypto industry is thriving for innovative businesses 

According to the latest reports coming from the essential online publication Blockworks, Dubai managed to attract more than 500 crypto companies in the wealthy city’s digital asset ecosystem.

Blockworks noted just last month the fact that The Dubai Multi Commodities Centre (DMCC) said Monday it registered around 3,000 new businesses last year, representing a 23% jump from 2021.

According to the official notes, it’s important that we mention the fact that of those, 343 were digital asset startups joining DMCC’s “Crypto Center,” the group told Blockworks, which would mean around 150 crypto-related startups were added in 2021.

Just in case you are not aware of this fact, the DMCC is the city’s flagship free zone which gives tax breaks and other benefits to startups. Another issue that we have to mention is that it launched a crypto hub in 2021, located in a 68-story skyscraper in the Jumeirah Lake Towers area of Dubai. 

According to the January reports revealed by Blockworks, the center is meant to serve as a coworking and networking space for entrepreneurs in the crypto and blockchain sectors.

It’s also essential to highlight the fact that digital assets technically fall under the Virtual Assets Regulatory Authority (VARA) purview; the Securities and Commodities Authority (SCA) — a UAE federal agency — is also responsible for some oversight of the digital asset industry.

“Backed by a strong regional macroeconomic landscape, DMCC has been efficiently accelerating its growth strategy throughout 2022, focusing on supporting its member companies in high-impact sectors such as Web3 and blockchain technologies, commodities and global trade,” said DMCC CEO Ahmed Bin Sulayem.

The piece posted by the same online publication that we mentioned above notes the fact that there is a number of digital asset firms that have already begun setting up in the UAE back in 2022, and they did this in order to be able to benefit from the massive advantages of the region’s enormous plans to flourish as a crypto hub.



Amidst the significant names that are now shining bright in the spotlight, we have to talk about the vital crypto companies that have provisional licenses – these are Binance and Crypto.com. It’s also crucial to mention the fact that these two haven’t opted to join the DMCC per its member directory. On the other hand, the DMCC highlighted a number of metaverse-centric startups on its member list.

The same online publication notes that despite the promotion and supposed ease of setting up there, some companies have found their entrepreneurial journeys complicated as the due diligence process can be taxing.

“The center reportedly partnered with Hong Kong-headquarterd venture capital firm Brinc last October. Brinc said it would offer potential funding opportunities to DMCC crypto startups through its $150 million accelerator vehicle,” Blockworks notes. 

Global Business website noted the fact that DMCC has partnered with the global VC firm Brinc and this move had been made in order to provide DMCC Crypto Centre members access to Brinc’s $150m accelerator fund.

Just in case you are not familiar with this, Brinc is a portfolio company of Animoca Brands, a global leader in Web3 and blockchain investment.

Crypto Centre members will now also have the opportunity to gain access to Brinc’s global network of innovative startups. They will also get access to business mentoring services from their new office in DMCC.

One other important issue that has to be mentioned is the fact that the DMCC Crypto Centre has attracted over 450 crypto firms since its launch in 2021. These companies are currently operating across financial services, healthcare, entertainment, gaming, and sustainability.

Ahmed Bin Sulayem, executive chairman, and CEO, DMCC, said as per the website mentioned above:

 “We are proud to be partnering with one of the world’s leading VC firms in this space, and to meet the growing demand from our members to access funding, while also providing access to Brinc’s well-connected ecosystem. With so many global challenges occurring simultaneously, major businesses are focused more than ever on accessing state-of-the-art infrastructure within a comfortable working environment, which is exactly what DMCC strives to provide.”

 

Dubai is making massive efforts to shape a sharp crypto future

 

There are a lot of businesses that have set their headquarters in Dubai, and probably the most intriguing ones are in the real estate industry and the ones that are dealing with crypto. As we already said, crypto means the future of finance, and the UAE is perfectly aware of that. The country has been making massive efforts to attract more and more investors in the country in order to open its amazing businesses. One of these latest businesses that opened its doors recently in Dubai is Starling Properties as well.

The firm brings various innovative ways of selling, buying, and renting properties in Dubai. The platform is a true real estate brokerage player which also allows clients to pay for properties via digital assets.

The firm's dedicated team takes pride in high expertise levels, exquisite customer service, and professionalism. Starling Properties has the most responsive agents who own updated and improved accuracy on the properties that are being bought or sold via the company.

The crypto-oriented company is striving to become the number one player in the real estate industry that's been flourishing like there's no tomorrow in Dubai. The location became a fresh breath of heaven regarding financial freedom, respect for privacy, and amazing real estate deals.

 

Accepting crypto payments for properties

The popularity of cryptos is on the rise not only in the UAE but all over the world. In order for crypto and its underlying tech, the blockchain to see a full-blown adoption wave, it's important to have regulations in place. This is exactly what the UAE did regarding crypto, and one of the effects of this move is the fact that investors have been coming here in massive numbers.

It's extremely important to note the fact that digital assets and their tech are rising again, and the resilience of both digital money and the booming tech has managed to convince more and more people that in times like these when inflation is on the rise and economic recession strikes, crypto is one of the most powerful hedge funds against inflation.

This, along with many other opportunities and advantages of digital assets, has led more nations to support the mainstream adoption of crypto. The Middle East countries, especially UAE, are strongly appr4eciating crypto and the blockchain, and this is why Dubai has already become a crypto hub for the whole world.

Dubai is a global hub that intersects the crypto space and the real estate industry, and this year things will be getting clear as to why the UAE is one of the most important locations on the planet for business. 

The real estate in Dubai will continue to flourish in 2023, and it seems that this is happening even more than before. People continue to come here due to the feelings of safety and respect for life and freedom amidst a global crisis that involves the economy, war, and all kinds of health and planet emergencies.

According to a growing number of reports, the UAE is showing massive commitment to the virtual economy with the help of landmark regulatory advances that have been taking place in 2022. The recently announced regulatory clarity on crypto in Dubai is attracting a lot of interest in the crypto space from the UAE, despite all crypto regulatory challenges and colossal price volatility.

Dubai is currently hosting more than 2,300 real estate companies, and this is the place in which Starling Properties decided to do its best and become the number one broker in the real estate industry, at the same time boosting the mass use of crypto as well.

In a saturated market such as the one that the UAE is seeing, Starling Properties will offer clients their best services built on important principles, which are the foundation of their whole mission and work: trust, integrity, professionalism, and exquisite customer service.

The property purchasing/selling process involves a lot of effort and difficult steps, and Starling Properties aims to become the number one brokerage company that offers flawless services.

One othe best advantages of working with a firm like Starling Properties is the fact that its customers are rewarded a lot for their loyalty by the firm.

For instance, there are some really juicy perks when being the firm's client – airport pick-ups in Rolls Royce vehicles and G-wagon for the VIP clients are some of them.

Flights and accommodation are on the company's tab as well. The firm is also paying for the customer's staying and travel to Dubai, up to 5,000 AED in a 5* Star hotel for three nights when they purchase a property through the company of AED 1M+.

With the help of companies such as Starling Properties, Dubai is able to stand out in a space in which the crypto volatility and regulatory challenges of crypto.

 

As a conclusion

If you need to find a reliable, experienced, and trustworthy real estate broker, look no further because Starling Properties is here to help you shine and dream the life you always dreamed of.

It's vital to have an experienced property team with tremendous experience in complex and standard transactions as well.

Starling Properties promises to become your go-to brokerage firm in Dubai that allows the easiest ways of buying, selling, and renting properties in the UAE. The top-notch services, along with flawless customer service, trust, integrity, along with loyalty, make Starling Properties the best choice for real estate and crypto enthusiasts.

The UAE continues to make massive efforts in order to host the latest technologies and innovations in the most popular and successful industries, and people are noting this more and more. This is the main reason why a lot of wealthy individuals choose this location as their paradise for a break or holiday, and some of them are even building a second home in this paradisic place. For any other information and educated knowledge about the UAE and especially Dubai, feel free to contact us at any hour of day and night. The amazing team of experts is always here waiting to take you on the next journey of your life.