Cryptocurrency and blockchain companies account for 16% of company registrations in the UAE Free Zone in Q1

According to the Dubai Multi Commodities Centre (DMCC), cryptocurrency and blockchain businesses accounted for 16 percent of the 655 new company registrations recorded in the first quarter of 2022. The increase in crypto-related registrations also corresponds to the "best first quarter performance" quarter for DMCC since its inception.

The launch of the DMCC Crypto Center resulted in an increase in registrations.

The Dubai Multi Commodities Centre (DMCC), one of the largest free zones in the UAE, said crypto and blockchain companies accounted for 16 percent of the 655 new company registrations recorded in the first quarter of 2022. the presence of DMCC Crypto, which opened in May 2021, was linked by DMCC to the increase in crypto and blockchain companies joining the free zone.

The DMCC statement said the number of new crypto business registrations increased in a quarter that was described as "the highest first quarter performance since its inception in 2002. DMCC Executive Chairman and CEO Ahmed Bin Sulayem touted the new milestone in the statement, which is said to cement the free zone's status as a "world-leading business destination. The CEO elaborated.