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Finance

Blockchain.com to Open Dubai Office After Securing Preliminary Regulatory Approval

The crypto exchange joins a number of companies expanding to the Middle East as Dubai aims to turn itself into a leading cryptocurrency hub.

By Elizabeth Napolitano
AccessTimeIconSep 9, 2022 at 6:35 p.m. UTC
Updated May 11, 2023 at 4:22 p.m. UTC
Blockchain.com is opening an office in Dubai. (shutterlk/Shutterstock)
Blockchain.com is opening an office in Dubai. (shutterlk/Shutterstock)

Blockchain.com has won provisional regulatory approval to operate in Dubai, according to a Reuters report.

The London-based exchange has signed a contract with Dubai’s Virtual Assets Regulatory Authority (VARA) – the city’s new digital assets regulations agency – to open up an office in the emirate, the story said, though it remains unclear when hiring for the office will begin.

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    • In July, Dubai’s crown prince unveiled The Dubai Metaverse Strategy, a plan to welcome more than 1,000 firms to the city and create more than 40,000 crypto jobs by 2030. The initiative underscored the city’s commitment to convert itself into the Gulf region’s premier crypto hub.

    Blockchain.com joins the ranks of several prominent crypto firms that have secured full or preliminary regulatory approvals to operate in Dubai in recent months, FTX, OKX and Crypto.com among them.

    Read More: Dubai Regulator: Three Arrows Capital Isn’t Registered Here

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Elizabeth Napolitano
    Elizabeth Napolitano

    Elizabeth Napolitano was a news reporter at CoinDesk.

    Follow @LizKNapolitano on Twitter