In Brief:
- Binance has signed an agreement with Dubai World Trade Centre Authority to build an ‘international digital asset zone.’
- The aim is to create more economical opportunities via digital innovation.
- The hub will attract investments, push market confidence and boost entrepreneurship.
Cryptocurrency exchange Binance announced on Tuesday it had signed a cooperation deal with Dubai World Trade Centre Authority, pushing to build an international digital asset ecosystem to create more economic opportunities via digital innovation.
The official statement pronounces its goals as to assist crypto exchanges, businesses that offer blockchain and Distributed Ledger Technology (DLT) services, and a wide range of digital currencies and assets to become licensed in Dubai.
The recent development of establishing DWTC as a crypto specialised zone and regulator for virtual assets is a testimony to Dubai’s elevated position at the business, trade, and technological levels.
This special hub for crypto assets and blockchain services will attract investments, push market confidence and boost entrepreneurship.
As a veteran in the crypto industry, Binance’s deal with DWTC reiterates its belief in Dubai’s future to step into a newly buzzing world of digital assets.
As per the statement, Dubai’s Virtual Asset ecosystem is an effort to “create a robust regulatory and legislative framework that will support innovation, ensure safe market adoption, and facilitate global acceptance.
