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Crypto in the United Arab Emirates. TRES was approved by DMCC for OTC commercial license to trade cryptocurrencies

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In the photo from left to right: Saif Al Mansouri, CEO of TRES OTC DMCC, Ahmed Bin Sulayem, CEO and CEO of DMCC, Dmitry Krasnogor, CEO of TRES OTC DMCC, Antony Katin, CEO of SIMBA Storage, and Alexey Liakhovnenko, CEO of TRES Group GmbH

In 2020, at the Davos Summit, the DMCC (UAE Free Economic Zone) announced a strategic partnership with CV VC and CV Labs to launch Crypto Valley, the world’s largest crypto, blockchain and distributed ledger ecosystem in Dubai. .

More and more countries are adopting cryptocurrencies after a long resistance. The UAE is rightfully one of the most progressive countries in recent decades, not stopping and seeing a perspective in the development of the cryptocurrency industry within the country, after long denial and misunderstandings.

The cryptocurrency industry has already shown its strength and its serious intentions to conquer the whole world and do better. Cryptocurrency capitalization grows every year and industry adoption continues to develop rapidly.

Recently, the official opening of Crypto Valley in Dubai took place and active work began, the Swiss company TRES Group, developer of SIMBA Storage, received a crypto-asset trading license to carry out over-the-counter transactions with cryptocurrencies in order to develop the crypto industry in the UAE. So far, it is the first, but not the last license in the country.

“Time and time again, we have seen that innovation has been driven by first-class support, whether through incubator and accelerator programs for SMEs or business-friendly environments, specialized licensing options and progressive regulations for multinationals. bigger. The DMCC Crypto Center, operated in partnership with CV Labs, achieves exactly that: a comprehensive ecosystem that is fully compatible with all types and sizes of companies operating in the cryptocurrency sector.

Two of our main goals for Crypto Center are to facilitate innovation within the blockchain and crypto space and to drive global adoption of the technology. With a range of industry leaders at the Crypto Center, the progressive regulations set by the Dubai authorities, and the pre-existing support framework established by the DMCC, we hope that Dubai will be the place all crypto companies seek growth opportunities. As Ralf Glabischnig, the founder of CV Labs, put it at the launch of the Crypto Center, the DMCC Crypto Center is well positioned to become the world’s largest crypto ecosystem. ”- Ahmed Bin Sulayem – Chief Executive Officer and Chief Executive Officer from DMCC.

“The global crypto industry, while still in a fairly nascent stage, has great potential, to the extent that it will likely positively affect all industries and sectors. As found in our recent Future of Trade report, trade experts and business leaders around the world believe that digital infrastructure, and in particular blockchain and other crypto technologies, will play an increasingly important role in the future of world trade.

Dubai has become synonymous with innovation, and the emirate has certainly embraced blockchain adoption technologies. With government-led initiatives such as the Dubai Blockchain strategy pushing the application of blockchain wherever possible in its public and private sectors, Dubai is demonstrating how blockchain can deliver a wide range of benefits. Through the DMCC Crypto Center, the UAE is unequivocally leading the development of the global crypto industry. ”- Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC

Previously, the license to trade crypto assets in the UAE was illegal and inaccessible, which imposed a series of restrictions on large banking and institutional structures that are ready to carry out activities with cryptocurrencies in the country.

The crypto asset trading license is a major step in the development and formation of the blockchain technology industry, business development, the influx of technology projects and startups, as well as the money supply for the country. The crypto asset trading license opens up opportunities for large institutional investors and banking structures in the crypto industry that were previously unavailable to them. This will cause an increase in the capitalization of the cryptocurrency market as a whole.

“The DMCC Crypto Center ecosystem is the latest business community focused on the crypto and blockchain sector in the DMCC Free Zone Dubai. It provides the perfect landing for any business focused on any number of areas in this booming innovative tech sector and offers a wide range of support, products and services, including the first industry-focused coworking accelerator space, CV Labs. Great to see that companies like TRES enter the DMCC Crypto community and take advantage of all that Free Zone has to offer. Dubai is fast becoming the center of the global crypto world and for good reason, ”says James Bernard, Director of Sales / Business Development and Head of Corporate Sales at DMCC.

TRES specialists highlight the great development prospects of the cryptocurrency industry in Arab countries, including those caused by the global change of patterns, especially in terms of technology.

SIMBA CEO Anton Katin draws analogies, mentioning the widespread transition to electric cars, solar energy and the desire of many countries to move away from the usual patterns of consumption, import and export of non-renewable resources.

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