Press Release
Crypto Oasis Thrives: UAE Blockchain Ecosystem sees Exponential Growth with 2,040 Active Organizations in Q1 2024
–News Direct–
Dubai, UAE, May 7th, 2024 – ( (PlatoAI via 500NewsWire) — Crypto Oasis proudly presented the an update on the ever-evolving UAE blockchain ecosystem during the second edition of Dubai FinTech Summit 2024. Over the past year, The number of active companies has surged from 1,800 to 2,040, marking a significant 13.3% YoY increase. This growth is a testament to the robustness and innovation within the industry, which now has over 10,600 professionals, with a healthy mix of 71% native Blockchain organizations and 29% non-native companies contributing to the ecosystem.
The UAE Ecosystem proves to be a hub for innovation and a magnet for attracting talent with over 10,600 individuals now working in the space.
Key Highlights:
Active companies within the ecosystem surged by a significant 13% year-on-year, reaching a staggering record of 2,040 organizations.
Marked increase in the industry workforce, with over 10,600 individuals working in the Blockchain space.
Regulatory clarity drives crypto industry growth as major global names such as Binance, Bybit, and OKX receive Virtual Asset Service Provider (VASP) licenses from VARA.
Within the vibrant UAE blockchain ecosystem, a diverse array of organizations contributes to its continuous success. Traders, brokers, and asset managers form a significant segment, accounting for 20.6%. Close behind, 19.9% are dedicated to technology and advisory services. NFT platforms represent 6.9%, while venture capitalists (VCs) make up 5.3%. The metaverse has a growing presence with 3.7%, and Web3 gaming initiatives account for 3.1%. Additionally, tokenization platforms are carving out a niche, representing 1.5% of the Blockchain organisations in the country.
The past year has been pivotal for the UAE blockchain space, with notable developments that have solidified its position as a global leader in blockchain innovation and disruption. VARA, the Virtual Asset Regulatory Authority, has demonstrated a commitment to responsible growth and intends to secure the markets integrity. Regulatory tailwinds have helped establish the region as a welcoming hub for blockchain enterprises.
Binance, Fasset, Hex Trust, Komainu and OKX are among the global crypto service providers to receive the VASP (Virtual Asset Service Provider) license from VARA last year. Regulatory milestones include, Aquanow, Bybit, Crypto.com and Deribit receiving preliminary licenses from VARA.
Throughout 2023, the UAE has seen a significant increase in cryptocurrency adoption, reinforcing its status as a burgeoning centre for digital finance. The XRP token from Ripple has been approved under the Dubai Financial Services Authority (DFSA) and Iota, an open-source distributed ledger focused on the Internet of Things (IoT) announced the creation of the Iota Ecosystem DLT Foundation in Abu Dhabi Global Markets (ADGM). Furthermore, the launch of the Dubai Web3 and AI Campus at the DIFC last year has positioned the UAE at the forefront of technological convergence, attracting talent and investment from across the globe.
Other blockchain-related news that shows the ecosystems remarkable growth trajectory is the fact that the UAE-based Bitcoin miner Phoenix Group became the first crypto-related firm to go public on the Abu Dhabi Securities Exchange at the end of 2023. DFINITY, a Layer 1 protocol, set up their regional hub, ICP.Hub GCC, is an initiative to provide an access point for projects and developers in the region into the Internet Computer Protocols Ecosystem.
The UAE has also become home to landmark blockchain events like Ripple Swell and Cardano Summit in November last year, underscoring the country's status as a premier destination for global Blockchain discourse. TOKEN2049, a global conference series, had a premier blockchain event in Dubai in April this year with over 400 side events and over 20,000 attendees. The Dubai AI & Web3 Festival planned for September 11-12, 2024 will be another feather in the cap of the city, as it posed to attract top global thought leaders to discuss the future of the Web3 and AI industry.
Ralf Glabischnig, co-founder of the Crypto Oasis said: "The Crypto landscape in the UAE and Middle East region is the fastest growing ecosystem worldwide. The government is doing for Blockchain what Silicon Valley did for tech. This past year has been nothing short of phenomenal for the Crypto Oasis Ecosystem. The surge in companies and talent underscores the UAE's commitment to fostering a vibrant blockchain and Web3 environment. We're excited to witness the continued growth and innovative solutions emerging from this dynamic ecosystem."
With a talented workforce and a commitment to innovation, the Crypto Oasis is poised to continue its exceptional progress. The Dubai FinTech Summit was a prime opportunity to witness the UAE's flourishing Blockchain ecosystem firsthand and to present the growth numbers of the ecosystem.
About Crypto Oasis
The Crypto Oasis is the largest Web3 ecosystem in the world focused on the Middle East and Africa region and is supported by initiators of the Crypto Valley Switzerland. The core elements needed for its development are Talent, Capital, and Infrastructure. The Ecosystem's stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Education & Research Institutions, Service Providers, and Government Entities & Associations. Crypto Oasis is the leading Blockchain ecosystem in the world. Today it is the fastest growing, with more than 2,040 blockchain-related organizations in the UAE alone.
Contact Details
Crypto Oasis
Faisal Zaidi
+971 55 200 0840
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/crypto-oasis-thrives-uae-blockchain-ecosystem-sees-exponential-growth-with-2-040-active-organizations-in-q1-2024-796743308
Plato AI
COMTEX_452009170/2655/2024-05-07T08:58:37
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections
DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.
Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”
The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.
In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.
The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”
Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation
DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.
Global Compliance Credentials of UVKXE
UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:
U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.
U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.
Background on the Malaysian Public List
The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.
Commitment to Legal Compliance and User-Centric Values
UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.
Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms
DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.
Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”
The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.
Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”
In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.
Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”
Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
-
Press Release3 days ago
The Strategy for Avoiding Failures for High Performers with Leila Entezam’s ‘SET UP’ Method
-
Press Release7 days ago
Zhuding International Limited Signs Reverse Merger Agreement with Automated Water Solutions Inc.
-
Press Release1 day ago
A Omega Fencing Company Launches New Eco-Friendly Fencing Options for Environmentally Conscious Homeowners
-
Press Release5 days ago
Eagle Crest Asset Management Prepares for Global Investors Summit Founder Ridel Bosco Castillo to Speak on U.S. Investment Landscape and Strategic Collaborations
-
Press Release2 days ago
Humera Tamboli elevates sustainable fashion with purpose: Embracing Supima cotton and Beechwood to create skin friendly capsule clothing
-
Press Release5 days ago
Safe Responsible Movers Earns Silver Medal in Banker & Tradesman’s Best Movers Poll for 2024
-
Press Release5 days ago
Revolutionizing Multilingual Tax and Bookkeeping Services for Global E-commerce Expansion: Flatfee Partners with cc:Monet
-
Press Release5 days ago
Cosmic Network Launches Revolutionary Decentralized Privacy Ecosystem, Addressing Global Digital Freedom Challenges