The presence of over 500 blockchain and Web3 firms inside the Dubai Multi Commodities Centre (DMCC)’s Crypto Centre shows that demand for space is still very high, a statement has said. According to CEO at DMCC Ahmed Bin Sulayem, the “record-high” number of overall new company registrations indicates the extent of investors’ “confidence in the emirate.”
New Milestone for DMCC
According to the United Arab Emirates-based Dubai Multi Commodities Centre (DMCC), the demand for space at its “Crypto Centre” grew significantly, and this can be evidenced by the over 500 blockchain and Web3 firms that were registered with the Crypto Centre by the end of 2022. The surge in the demand for space at the DMCC centre came against the backdrop of a 23% year-on-year increase in the number of registered members from 2,485 in 2021 to the 3,049 seen by the end of 2022.
Commenting on what is seen as a new milestone for the commodities centre, Ahmed Bin Sulayem, the executive chairman and CEO at DMCC, said:
Backed by a strong regional macroeconomic landscape, DMCC has been efficiently accelerating its growth strategy throughout 2022, focusing on supporting its member companies in high-impact sectors such as web3 and blockchain technologies, commodities and global trade. The unprecedented performance this year reflects this growth acceleration and highlights the significant value that DMCC adds to each of its members.
The CEO also suggested that the “record-high” number of new company registrations could well indicate the extent of investors’ “confidence in the emirate.”
Meanwhile, Feryal Ahmadi, the chief operating officer (COO) at the DMCC suggested that his organization would seek to “build on its position of strength by further enhancing its services and offerings” and by forging new alliances around the world.
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Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.
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