Binance and other crypto companies are bullish on the United Arab Emirates (UAE). The country is making a name for itself as crypto-friendly in the face of global competition from the United States, among others. Feras Al Sadek, Managing Partner of Ghaf Capital, emphasized that the UAE stands out for its approach: “Regulation through education.”
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Binance praises the crypto epicenter
Binance, one of the world’s largest crypto exchanges, has expressed that it is optimistic about the opportunities and growth opportunities that the UAE offers. The Emirates has made significant progress in recruiting blockchain and cryptocurrency companies in recent years.
The UAE’s positive attitude towards innovation and technological advancement has made the country an attractive destination for companies operating in the world of crypto.
The country has not only attracted attention for its proactive approach to technological developments. It is also celebrated for the investments in infrastructure that enable the success of crypto companies. This infrastructure does not only include advanced technological facilities. It also has a favorable business environment and regulatory framework that provides clear guidance to companies.
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No reason to panic for crypto emirates
Alex Chehade, Binance’s general manager for the Middle East and North Africa, said that due to the UAE’s strong approach to technology and innovation, the local government has developed the infrastructure around numerous initiatives. These include artificial intelligence, Web3 and sustainability. For these reasons, there is little reason to panic:
“The track record is there… We have the education system, the health system, the roads, the trains. Where else would you move?”
Faisal Zaidi, co-founder of Crypto Oasis Ventures, said the UAE’s lifestyle and business scene made it attractive for foreigners. He added:
“Perhaps there will be a delay in the creation of new organizations, but those that exist will remain.”
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