The United Arab Emirates has one of the fastest-growing crypto currency ecosystems in the world. The country is home to more than 1,400 industry stakeholders including startups, professional services firms, academia and government agencies, employing more than 7,000 people, according to the recent report released by the Crypto Oasis Ecosystem Report 2022.
The report provides insights into the state of the crypto and blockchain industry in the UAE, which dives into the dynamics of the sector, and takes a deep look into some of the most notable blockchain initiatives and organizations.
According to the report, the UAE is home to a rich blockchain and crypto ecosystem including global protocols such as Bitcoin, Ethereum and Cardano, top exchanges such as Binance, Kraken and Crypto.com, as well as Web 3.0 companies, decentralized finance (DeFi) startups and non-fungible token specialists (NTF).
In total, more than 1400 crypto and blockchain companies and organizations are represented in the country, that includes 40 global protocols, 25 digital asset companies, 21 metaverse companies and 20 crypto exchanges. Other segments represented include NFT platforms, decentralized finance (DeFi) and Web 3.0.