According to Cointelegraph, the UAE is becoming a global center for blockchain and cryptocurrency innovation, with Shariah compliance services, dirham stablecoins and international talent migration being key trends.
At the Bitcoin MENA and Abu Dhabi Financial Week events in the UAE, industry insiders discussed the future trends of the crypto industry in the Middle East. Blockdaemon's Chief Revenue Officer Vranjes called the UAE a springboard for blockchain projects because of its clear regulations, attracting talent from London, India and the Asia-Pacific region.
Demand for Shariah-compliant crypto services has grown significantly, especially in the decentralized finance (DeFi) space. Core DAO’s Bendjemil said this opens up possibilities for members of the Muslim community.
Zurawinski noted that the dirham stablecoin could strengthen the UAE’s local payment infrastructure. On October 18, a stablecoin issuer received preliminary approval from the UAE central bank.