Al Zarooni Group and the community for decentralized currencies Crypto Bulls gathered to open the first official Dubai-stated cryptocurrency exchange Crypto Bulls Exchange.
The CEO of Crypto Bulls Exchange, Shasha Gupta, stressed that crypto trading industry was developing very fast in this region as the exchange gained over 200,000 traders in past six months. The exchange will provide an offer to change the fiat currency Arab Emirate Dirham (AED) to digital money and backward.
Gupta claims that the UAE governmental support will attract a considerable number of foreign crypto investments from Asian and Middle Eastern countries. Moreover, a state-pegged cryptocurrency Emcash is going to be an important part of a blockchain-friendly policy.
Next Blockchain Cradle
It seems that the aim of UAE is to become a blockchain and crypto industry player as significant as Malta and South Korea. For example, Ripple is going to open a new office in Dubai this year. According to Dilip Rao, Ripple’s global head of infrastructure innovation, “Ripple is seriously planning to enter the Middle East market." Perhaps, the governmental policy and attracted investors can really fulfill the dreams of the new blockchain center.