THECRYPTO.WATCH – The United Arab Emirates or Dubai is predicted to be a global crypto center. The Dubai government provides full support for crypto, as a result the country becomes an easy target to become the largest cryptocurrency center in the world.
Not only in crypto , even Dubai is also the center of NFT. Dubai has also accepted the new technology compared to other countries that first had a crypto market. Therefore, there are several crypto companies from China that want to try their luck in the United Arab Emirates (UAE).
Binance in Action
Binance is a crypto company from China. The company began to move quickly after the change of the global crypto center in the United Arab Emirates. Binance started moving by striking a deal with the Dubai World Trade Center Authority (DWTCA).
As a result, Binance managed to come to an agreement. Eventually, the company became one of the first cryptocurrencies to join DWTCA. It’s really hard work to be included in the crypto center.
Binance has also announced that they believe and are optimistic that they can contribute to global growth in Dubai. Through an agreement, they seek and are committed to advancing international virtual assets to be able to generate long-term economic assets.
Including a Chinese company, Binance strives to be able to straighten up as a regulated and mature financial institution. Although it recently faced several blows from regulators around the world.
Binance stands still and shows that regulators around the world have had little impact. Even in mid-2021, Binance experienced a trading spike.
Apart from crypto, there has also been a surge in the buying, selling and creation of NFTs. Unlike crypto, NFT cannot be traded or exchanged for the same value. The reason is that NFT includes unique assets in various forms, such as games, images, videos, and so on.
Citizens of the United Arab Emirates are not only interested in crypto , but also in NFT. It is proven that around 23 percent of the residents have at least 1 NFT. That’s why the United Arab Emirates is the largest global crypto center and NFT in the world.
