UAE investors favour crypto more than expats, poll shows

CryptocurrenciesEmirati investors are more open to investing in cryptocurrencies and less concerned with more regulation than Western expats according to a recently published survey of UAE residents. The survey, conducted by YouGov and commissioned by Holborn Assets, found that one in four (26%) of the 1,000 plus respondents view crypto assets as “exciting investment opportunities” and a further 44% would be willing to allocate over 5% of their investment portfolio to the nascent asset class. The statistics showed the interest was strongest among local investors. A third (33%) of Emiratis are keen to invest, compared to 23% of Arab expats and just 19% of Western expats. Furthermore, a third of Emiratis are willing to invest between 5%-10% of their portfolio to cryptocurrencies compared to just 14% of Western expats. "There is clearly growing demand for this new and enticing asset class, especially given the returns it can potentially offer investors," said Stefan Terry, global senior partner in the UAE office of Holborn Assets. ©2021 funds global mena

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