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Binance by the Numbers
In the UAE’s well-regulated crypto market, Binance is working with regulatory bodies to obtain the necessary licenses and is helping to shape policies that adequately protect consumers, encourage innovation, cultivate progress, and move the industry forward.
The company received its Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) in September this year, meaning that they can now offer an approved range of virtual asset related services to suitably qualified retail and institutional investors in Dubai.
They also received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) and can now offer custodial services to professional clients in and from the ADGM.
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Dubai’s Digital Economy and Its Expanding Startup Ecosystem
Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.
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