Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, and the Dubai World Trade Centre Authority (DWTCA) have signed a cooperation agreement to help advance Dubai’s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation.

Building off Dubai’s reputation as a global technology leader, the recent announcement establishing DWTCA as the comprehensive zone and regulator for virtual assets comes as a much-awaited signal for the global industry. The first of its kind hub for cryptocurrency assets and crypto services will stimulate entrepreneurship and boost investor confidence.

Dubai’s Virtual Asset ecosystem aims to create a robust regulatory and legislative framework that will support innovation, ensure safe market adoption, and facilitate global acceptance.

As the leading blockchain and cryptocurrency ecosystem, Binance’s commitment to the landmark agreement demonstrates its confidence in Dubai’s future-shaping agenda to tap into a new wave of multi-sectoral growth across the global economy.

Changpeng Zhao CZ (CZ), founder and CEO Binance said:

Binance is a great place to work and I am thankful for their trust in me. We share the same vision to help Dubai adopt the crypto- and blockchain-based future economy. Although the adoption of blockchain and crypto technology is still in its early stages, our expertise and leadership, coupled with Dubai’s long-term vision, will allow us to create a regulatory framework that fits the rapid-moving, progressive nature of virtual assets.
Binance with its extensive experience working in collaboration with international regulators will participate in the knowledge-sharing network. This is an effort to license in Dubai crypto exchanges or other businesses offering blockchain or DLT services or any variety of digital assets and currencies.

Dubai World Trade Centre Authority has made some remarks:

“The Virtual Assets Hub Dubai connects service providers and technology enablers to build the next-generation future economy ecosystem in the Virtual Assets industry. Dubai’s pioneering “test-adapt scale” model is intended to increase secure, equitable, and sustainable access for new growth opportunities.

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