DMCC opens crypto centre

A centre for businesses operating in the crypto and blockchain space has launched in one of Dubai’s free trade zone, the Dubai Multi Commodities Centre (DMCC).

The DMCC Crypto Centre will be based in the Almas Tower and is aiming to be a regional hub for crypto business, including blockchain-based trading platforms and firms offering, issuing and trading crypto assets.

The centre, which is backed by the Government of Dubai Authority, will also house a crypto advisory business, CV Labs.

“Crypto and blockchain technologies have an enormous potential to transform global trade and supply chains,” said Ahmed Bin Sulayem, chief executive of the DMCC.

“This aligns perfectly with DMCC’s vision to drive the future of trade and is one of the key drivers behind launching the DMCC Crypto Centre.”

The DMCC is the second free zone to target the crypto market following the announcement from the Dubai Airport Freezone Authority that it had been granted regulatory approval to trade crypto assets.

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