While it might seem premature to declare the UAE the world’s crypto capital, the evidence suggests that this title isn’t far off.
Fuze CEO Mo Ali Yusuf notes that the UAE is swiftly emerging as a center for groundbreaking innovations, regulations, and transactions in the cryptocurrency sector. Recent data from Chainalysis shows that over a 12-month period, the UAE has handled US$35 billion in crypto transactions. Notably, institutional investments—each worth over $1 million—make up 67% of this amount.
“The trend towards supporting professional investors and businesses in the crypto space is clear,” Yusuf states. “Currently, nearly 2,000 companies in the UAE are striving for crypto relevance. About 70% of these are ‘crypto-native’ businesses focused on digital asset products, while the remainder provide essential support services. This number is steadily increasing, positioning the UAE as one of the fastest-growing digital asset markets globally.”
Yusuf further explains that the UAE’s swift adoption of digital assets is likely to have a ripple effect on various sectors worldwide. “For instance, UAE expatriates send approximately $50 billion annually to their home countries,” he says. “Most of this is still transferred through traditional physical outlets, which can be slow and costly due to intermediary fees. The advent of stablecoins can revolutionize this process, making remittances faster, more efficient, and cheaper. This is just one example of how digital assets can transform numerous sectors. From real estate to art, payments to reward programs, every industry will feel the impact of digital assets. While professional investors are currently the main beneficiaries of progressive regulations and a supportive crypto environment, soon, the influence of digital assets will permeate all aspects of life.”
