The Impact of Crypto Assets Companies on Dubai’s Business Scene

Business Consultant
February 25, 2022
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Dubai has become one of the biggest markets for crypto-asset platforms in the world. The dramatic rise of crypto assets companies has completely altered the business all around the world and encouraged more investors and entrepreneurs to set up their crypto-related licenses in Dubai.

If you wish to incorporate a crypto assets company in Dubai, DMCC offers the following activities.

Distributed Ledger Technology Services

Includes providing database management solutions and ancillary services based on distributed ledger technologies, such as Blockchain. Companies with this activity are not permitted to trade in, or set up an exchange for, currencies or cryptocurrencies/commodities or provide any financial activity services, brokerage, or payment processing.

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Proprietary Trading in Crypto-commodities

Includes the buying and selling (Proprietary Trading) of crypto-commodities developed on distributed ledger technology applications. This activity does not include acting as an exchange, providing brokerage services, financial services, banking services, payment processing, or storage services.

DMCC have recently announced the launch of the DMCC Crypto Centre in Almas tower on the 48th floor, UAE's leading ecosystem for cryptographic, blockchain, and distributed ledger technologies. A hub created to help foster the success of future innovators, entrepreneurs, and pioneers.

In partnership with CV labs, DMCC have set up the DMCC Crypto Centre for start-ups, entrepreneurs, and corporates that are looking to establish a bespoke solution or partner-up within this sector. The DMCC Crypto Centre will offer a wide variety of services and activities such as the following:

The DMCC Crypto Centre will be offering a great diversity of properties, such as shared desks, dedicated desks, and offices. A start-up or an entrepreneur will be able to enjoy a subsidized setup
cost for the first year.

The DMCC Crypto Centre is operated by CV Labs DMCC, with a dedicated receptionist and an Ecosystem Manager responsible for delivering all the services and running the Centre’s activities.

New member companies must obtain one of the following new license activities* to be eligible for benefits from the DMCC Crypto Centre:

Regulated activities – require obtaining a NOC from the Securities and Commodities Authority (SCA) to proceed with the license application