Dubai plans to bring in over a thousand cryptocurrency businesses into country by next year

Dubai happens to be one of the many cities in the world that is currently focusing a great deal of its energy on technology and how they will become the biggest tech hub in the world. Even recently, they have started the 2020 Expo, which was one of the most ambitious tech expos in the world. And with how cryptocurrencies have been improving in recent years, it is very obvious that the city of the future is looking to get in on its popularity.

Cryptocurrencies have grown exponentially in recent years, allowing people to make the best investment decisions that they have ever made in their lives. And now that the price of Bitcoin has crossed $70,000, it is very difficult to imagine that cryptocurrencies will just disappear overnight. And Dubai has taken notice of this incredible rise. And they are very confident that they will be able to bring in over a thousand cryptocurrency firms by next year.

And even though this might sound like a hard sell, you should remember that this is from the country that built an artificial island. Therefore, it is safe to say that nothing is quite out of their reach.

Furthermore, other than bringing in international firms, both Dubai and Abu Dhabi have started to implement a variety of advantages that can help entrepreneurs start their own cryptocurrency firms. More specifically, both cities are looking for crypto exchanges, and have even implemented a variety of rules that can protect customers from very intrusive or predatory firms.

Dubai even founded the Dubai Blockchain Centre, which would help in growing Dubai into the necessary crypto hub that they are looking forward to. The chief executive of the program even shared his thoughts on how the city is quickly transforming into a proper hub for cryptocurrencies. He said that five years ago people would have never expected the UAE to even accept cryptocurrencies. He further continued that the country is very open-minded and is looking forward to the different companies that come their way.

Interest in the Middle East surrounding cryptocurrencies has been on the rise in recent years. The UAE has been especially ambitious about its goals towards a more technologically advanced future, where more people use cryptocurrencies as well as invest in them.

Overall, Dubai is all set to be the next major player in the crypto market, as it is now starting to bring in even more businesses than before. Companies that were once looking for a fresh place to start with very little competition but incredible potential, then the UAE just might be the place for them.