After granting several crypto firms like OKX, FTX, and crypto.com subsidiaries regulatory approval, the Emirates regulators have granted crypto firm Blockchain.com access to join the list of firms that offer crypto-related services to Dubai residents.
In a recent report by Reuters on Friday, the London-based crypto firm Blockchain.com has signed an agreement with the Virtual Assets Regulatory Authority (VARA) of Dubai to open an office and operate in Dubai and provide virtual assets services to Dubai citizens.
Blockchain.com currently provides virtual assets services in North America, Europe, South America, and Singapore, and now, Dubai has joined the list.
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Dubai is Becoming Crypto Hub
As Dubai residents continue to embrace crypto and Blockchain technology, its government has made moves to maximize the opportunities crypto and blockchain technology could offer.
In March, Sheikh Mohammed bin Rashid Al Maktou, the prime minister of Dubai announced the creation of cryptocurrency regulators, several crypto firms have been granted approval by the regulators as virtual assets service providers.
Also in July, Dubai launched a metaverse trading strategy that will see the Emirates create about 40,000 jobs by 2023 which will in turn boost its economy.
Blockchain.com is a London-based crypto firm and one of the early Bitcoin infrastructure firms, in addition to its Dubai expansion, the firm is also looking to expand its reach to Italy, France, Spain, and The Netherlands.
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