The Dubai World Trade Centre Authority (DWTCA) has signed a cooperation agreement with Coinbase, the world’s leading blockchain and cryptocurrency infrastructure provider, to establish a new international virtual asset ecosystem that enhances Dubai’s position as a global hub for the industry and generates long-term economic growth through digital innovation.
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The agreement follows a recent announcement establishing DWTCA as the comprehensive zone and regulator for virtual assets and reflects Dubai’s continuous efforts to adopt advanced technologies, especially in the fintech sector.
Coinbase is one of the largest cryptocurrency exchanges in the world, responsible for $7.7 trillion crypto exchange volume in 2021, while the daily trading volume is around $80 billion, and the number of users is estimated at 28 million.