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Co-working spaces for crypto entrepreneurs within the Jumeirah Lakes Towers district
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Center will house a leading crypto advisory practice led by CV Labs
The Dubai Multi Commodities Center (DMCC), the world’s flagship Free Zone, and the Government of Dubai Authority on commodities trade and enterprise have announced the launch of the DMCC Crypto Centre, a comprehensive ecosystem for businesses operating in the cryptographic and blockchain sectors.
Located in the state-of-the-art Almas Tower, the DMCC Crypto Centre is set to be a hub for the development and application of crypto and blockchain technologies.
The Centre offers a home to all types and sizes of crypto businesses, from companies developing blockchain-enabled trading platforms to firms offering, issuing, listing, and trading crypto assets.
The DMCC Crypto Centre will also house a leading crypto advisory practice led by CV Labs, the entity behind the Switzerland government-backed Crypto Valley, which has previously spawned Crypto leaders such as Cardano and Ethererum.
The DMCC Crypto Centre will offer co-working spaces to crypto entrepreneurs and SMEs and a range of incubator and accelerator programs, all within the DMCC’s vibrant Jumeirah Lakes Towers district, in the heart of Dubai.
Ahmed Bin Sulayem, executive chairman and CEO of DMCC, said crypto and blockchain technologies have an enormous potential to transform global trade and supply chains.
“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. With a progressive and supportive regulatory environment, a strong pool of industry talent, and an ecosystem that provides access to capital, resources and opportunities to crypto firms, the DMCC Crypto Centre is perfectly placed the support crypto businesses and advance global trade,” he said.
DMCC has a strong track record of using cryptographic and distributed ledger technologies, with their blockchain-enabled agri commodities trading platform, Agriota, connecting farmers in India with consumers in the UAE, and the DigitalSugar platform utilizing blockchain for the international trading of sugar.
In March, DMCC entered into a memorandum of understanding (MoU) with the Securities and Commodities Authority CA to establish a regulatory framework for businesses offering, issuing, listing, and trading crypto assets in DMCC.
DMCC signed an agreement with CV Labs and CV VC in 2020 to support the development of a leading crypto ecosystem in Dubai. In February 2021, DMCC’s Executive Chairman and CEO, Ahmed Bin Sulayem, became a member of CV VC’s advisory board.