BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

The UAE’s Crypto Investments Breach $35 Billion and Continue Rising

by BlockNews Team
October 2, 2023
in CRYPTO, FINANCE, MEDIA
Reading Time: 3 mins read
A A
1
SHARES
22
VIEWS
Share on XShare in TelegramShare on Reddit
  • The UAE has received $35 billion in crypto value, driven largely by institutional investments accounting for 67% of transactions.
  • Dubai leads with its crypto-centric strategies, promoting decentralized exchanges and showcasing a surge in NFT interest.
  • Regulatory foresight, epitomized by VARA’s framework, positions the UAE as a sought-after global hub for crypto enterprises.

The United Arab Emirates (UAE) has been taking leaps and bounds in the cryptocurrency market, showcasing a surge in institutional investments. According to Chainalysis, the UAE has received an impressive $35 billion in cryptocurrency value from June 2022. This massive influx has positioned the UAE above neighboring countries like Qatar, Oman, Jordan, and Lebanon.

Between July 2022 and June 2023, institutional investments, each surpassing $1 million, accounted for over 67% of the UAE’s cryptocurrency transactions. Such robust involvement from institutional investors signifies that a broader spectrum of professional investors is delving into the crypto market, propelling its expansion.

Kim Grauer, the Director of Research at Chainalysis, stated that the dominant role of institutional and professional-sized transactions shows the zest of organizations and affluent individuals to incorporate cryptocurrency into their investment mix. This trend also mirrors the UAE’s endeavors to establish clear regulatory guidelines, aiming to solidify the nation’s position as a paramount crypto nucleus.

Besides institutional investments, transfers connected to professional investments ranged between $10,000 and $1 million. Meanwhile, retail investments contributed a modest 4.63% to the total transfers in the UAE during this period.

The UAE as a Crypto Powerhouse

The UAE’s crypto-centric strategy isn’t coincidental; it’s the result of its foresight and timely regulatory measures. Dubai, in particular, has been a torchbearer in the crypto realm, launching its blockchain strategy as early as 2016. This proactiveness culminated in the inception of VARA, the Virtual Asset Regulatory Authority, in 2022.

One of the hallmarks that set the UAE apart is its leaning towards decentralized exchanges, which account for 48% of crypto activities, surpassing centralized exchanges at 46%. These decentralized exchanges, preferred due to superior security and user control, demonstrate the UAE’s forward-thinking approach.

Furthermore, the UAE has witnessed a significant uptick in enthusiasm for Non-Fungible Tokens (NFTs). NFT websites in the UAE garnered a whopping 4 million web traffic visits between July 2022 and June 2023. Grauer believes that this ongoing interest provides businesses with golden opportunities to transcend the initial hype and to innovate practical applications based on this technology.

Regulatory Acumen Fuels Growth

A pivotal factor contributing to the UAE’s meteoric rise in the crypto landscape is its regulatory agility. Embracing blockchain technology, the UAE introduced regulations early. This regulatory foresight has made the nation a hotspot for top-notch financiers, budding tech entrepreneurs, and avant-garde companies from around the globe.

VARA’s comprehensive regulatory framework, released in February 2023, is a testament to the UAE’s dedication to fostering an encouraging environment for crypto enterprises. This framework, characterized by its specificity for different virtual asset services, ensures clarity and aids businesses in comprehending precise regulatory requisites. With such structures in place, the UAE is poised to further its reputation as a global crypto hub, drawing businesses and investors alike.

Tags: BreachChainAlysisUAE
TweetShareShare
Previous Post

Partnership between Social Media Platform X and Paris Hilton’s 11:11 Media Envisaged for Transformation and Revenue Generation

Next Post

Japan Continues to Embrace Web3 as Honda Now Accepts Crypto as Payment Method

DON'T MISS THESE! HOT OFF THE PRESS

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.