Why Dubai is the epicenter of virtual assets and fintech innovation – News
As the world moves into a new era of technological advancement, Dubai stands as a shining beacon of progress, leading the way in virtual asset innovation and global compliance. With its forward-thinking approach to embracing and integrating new and emerging technologies, Dubai has become synonymous with cutting-edge development.
Read more…
Through strategic initiatives, Dubai promotes a regulatory environment that encourages innovation, while adhering to global compliance standards, as well as introducing new initiatives in compliance and governance.
The city’s proactive approach is evidenced by the launch of the Dubai Blockchain Strategy in 2016 and the Dubai Metaverse Strategy in 2022, positioning Dubai as a global hub for the virtual asset industry. Through initiatives such as the Unified Business Registry Platform (UBR).
Dubai is at the forefront of adopting cryptocurrency projects that drive transformative growth. These initiatives are revolutionizing key sectors including real estate, governance, logistics, metaverse and fintech, further cementing Dubai’s status as a leading destination for the development and distribution of virtual assets.
The Virtual Assets Regulatory Authority (VARA) is Dubai’s exclusive regulator for virtual assets, designated as the world’s first independent authority in this domain. With a mission to establish a replicable global framework, VARA promotes transparency, trust and innovation in the virtual asset industry. By collaborating with international experts, organizations and local financial regulators, VARA reduces risks and supports cross-border operations, promoting a secure environment for market adoption and expansion. The aim of VARA is:
- To strengthen Dubai’s position as a regional and global hub for virtual assets and related services, promote a competitive digital economy.
- Empower investors by raising awareness of virtual asset services and products, and encourage innovation for significant opportunities.
- Attract investment and businesses to Dubai by promoting the burgeoning virtual asset landscape.
- Encourage shared responsibility for drafting effective, tailored regulations to protect investors and combat illegal activities in cooperation with relevant entities.
- Develop necessary regulations, rules and standards to oversee virtual asset platforms, service providers and other virtual asset-related matters.
Movers and Shakers of FinTech
Fintech leader Creed&Bear has introduced its ground-breaking software that uses both machine learning (ML) and artificial intelligence (AI), which revolutionizes management by processing vast amounts of historical and unstructured data in real time, offering unparalleled capabilities in trade execution and data analytics. . The company’s decision to expand into the MENA region reflects the growing global interest in AI and ML applications in the financial industry.
By joining the rapidly developing fintech landscape in Dubai, Creed&Bear aims to contribute to the city’s entrepreneurial ecosystem, which is supported by public financial institutions and is receptive to technological advances in digital assets and finance. As a result, the company is happy to make use of the diverse talent pool and collaborate with key players in the region.
The expansion of Creed&Bear into Dubai’s booming market exemplifies the city’s appeal for innovation and growth. Creed&Bear’s software revolutionizes asset management and reflects the growing global interest in AI and ML applications in the financial industry. As part of Dubai’s dynamic entrepreneurial ecosystem, Creed&Bear aims to contribute to the city’s progress.
To keep up to date with all the latest FinTech happenings, follow Creed&Bear on their social media: Twitter | LinkedIn | Medium
