One of the world’s biggest blockchain and crypto infrastructure providers, Binance recently announced that the company has signed a cooperation agreement with Dubai World Trade Centre Authority (DWTCA) to support the development of the digital asset ecosystem in the region.
The details shared by the crypto exchange highlight that the latest agreement will facilitate Dubai's commitment towards an efficient and secure virtual asset ecosystem. In addition to its support for crypto entrepreneurship, Binance will collaborate with global regulators to facilitate progressive virtual asset regulations.
The latest initiative by DWTCA will support the licensing and regulation of crypto firms in the region. Earlier this week, Dubai World Trade Centre Authority announced that it will become a comprehensive zone and regulator for companies working in the digital asset ecosystem.
"I am grateful for the confidence the Dubai World Trade Centre Authority has placed in Binance. Together, we share a vision for helping Dubai embrace the new future economy that includes crypto and blockchain. Today, the adoption of crypto and blockchain technology remains in its infancy, but through our leadership position and expertise, combined with the long-term vision of Dubai, we plan to develop a regulatory framework appropriate to fit the fast-moving and progressive nature of virtual assets,” Changpeng Zhao (CZ), the Founder and CEO of Binance, commented.
Dubai World Trade Center
Known as a business hub of the United Arab Emirates, DWTCA is one of the most popular destinations for global businesses. With the growing popularity of digital assets, DWTCA has decided to introduce measures to enhance the adoption of virtual assets in the region.
“The new Virtual Assets Hub in Dubai will connect service providers, technology enablers and governments to co-create the next generation future economy ecosystem for the Virtual Assets industry. Our pioneering 'test-adapt-scale' model is designed to accelerate secure, equitable and sustainable access to new growth opportunities, aiding Dubai's vision for a fully digital and inclusive global society,” DWTCA remarked.
