No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Switzerland-based Crypto Valley Association has partnered with Crypto Oasis in Dubai to collaborate on the ongoing development of the blockchain industry in both countries.
The Crypto Valley Association (CVA), based in the self-proclaimed “Crypto Valley” of the Swiss canton of Zug, partnership With its counterpart in Dubai to connect a group of growing blockchain communities in Switzerland and the Middle East.
Both associations were founded by Ralf Grabischnich, who played a major role in establishing Zug as a center for blockchain and cryptocurrency organizations. As previously researched by Cointelegraph Magazine, the likes of the Ethereum Foundation have sprung up in the region. A new partnership between the association based in Switzerland and the United Arab Emirates is set up to establish links and information sharing between businesses in the two countries.
Crypto Oasis co-founder Faisal Zaidi spearheads a CVA-led initiative in Dubai. Dubai already has over 1,100 of his UAE-based organizations involved in its growing ecosystem. In his announcement statement, Zaidi highlighted Dubai’s efforts to emulate the adoption and promotion of Zug’s blockchain-based businesses, products and services.
This alliance will connect the fragmented blockchain world by connecting Switzerland, which is at the forefront of disruptive technologies, and the Middle East, which is poised to become the new hub for cryptocurrencies and blockchain. “
CVA already has similar initiatives underway, and Latin America’s chapter Take advantage of South America’s booming cryptocurrency and blockchain sector in July 2022.
According to the announcement, CVA has invited the Dubai International Financial Center to visit Zug and has identified blockchain organizations that may migrate to the United Arab Emirates to strengthen its growing ecosystem.
Dubai Crypto Oasis aims to increase the number of blockchain and cryptocurrency companies in its ecosystem to 1,500 by the end of 2022. In contrast, the CVA ecosystem took him nearly six years to reach over 1,000.
From a regulatory perspective, Dubai introduced new legislation in March 2022 to enhance investor protection and create governance standards for cryptocurrency-related businesses operating within its jurisdiction.
Around the same time, major cryptocurrency exchanges Binance and FTX obtained licenses to set up and operate their headquarters in Dubai.
