Dubai Leads as World’s Largest Licensed Virtual Assets Market

  • Dubai becomes the world’s largest licensed virtual assets market with AED 2.5T transactions.
  • Sheikh Maktoum says Dubai hosts 40+ licensed providers, praising VARA’s role in transparency.
  • Dubai’s new financial strategy aims to double GDP share and expand SME growth over 3 years.

Dubai has achieved a major milestone in its financial journey. The city has become the world’s largest licensed market for virtual assets, with transactions reaching AED 2.5 trillion ($680 billion) in 2025. The announcement came during a meeting chaired by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance.

From early 2025 until now, regulated entities under Dubai’s Virtual Assets Regulatory Authority (VARA) have seen strong growth. Virtual asset transactions hit AED 2.5 trillion, while assets under management exceeded AED 9.6 billion ($2.6 billion). This growth reflects the rising involvement of major institutional players in the sector.

Dubai Expands Virtual Assets and Financial Growth Strategy

The meeting revealed that virtual assets currently contribute about 0.5% to Dubai’s GDP. This equals AED 2.2 billion ($500 million). The regulated VARA framework aims to expand this share to 3% in the coming years, pushing the contribution to nearly AED 13 billion ($3.5 billion).

Sheikh Maktoum stated that Dubai now stands as the world’s single largest licensed virtual assets market, hosting over 40 licensed virtual asset service providers. He also praised VARA’s efforts in enhancing transparency and strengthening Dubai’s global reputation in digital finance.

Dubai’s ecosystem extends beyond licensed entities. Over 600 registered companies operate in advisory, technology, or proprietary trading activities. These firms play an essential role in supporting the broader digital asset environment.

Another plan that was passed by the committee was the Dubai Financial Sector Strategy. The plan would seek to establish Dubai as one of the best financial centers worldwide. It is aimed at doubling the contribution of the financial sector to the GDP and raising the amount of managed assets.

The plan involves 15 significant programs to be implemented in three years. Such programs would promote family businesses and startups to trade in Dubai markets. The strategy is also aimed at growth in asset and wealth management by policies that would draw new investors and fund managers.

Dubai Empowers SMEs to Drive Sustainable Economic Growth

Supporting small and medium enterprises (SMEs) remains a key goal. The strategy introduces new financing models to improve access to capital. These measures aim to ensure SME sustainability and increase their overall contribution to Dubai’s economy.

The meeting was attended by senior officials, including Mohammad Al Gergawi, Vice Chairman of the Committee; Mohamed bin Hadi Al Hussaini; Omar Sultan Al Olama; Helal Saeed Al Marri; Essa Abdulfattah Kazim; Faisal Yousef bin Sulaitin; Fadel Abdulbaqi Al Ali; Saeed Al Eter; and Huda Sayed Naim Al Hashimi, Secretary General of the Committee.

Related: Dubai Approves First Tokenized Money-Market Fund by Qatar National Bank

Key economic policies are managed by the Higher Committee of the Development of the Economic and Financial Sector. It also aligns with the Dubai Economic Agenda D33, which would see Dubai ranked as one of the top three cities in the world. The committee liaises with financial and economic organizations to combine strategies and enhance competitiveness.

The objectives of these efforts are to strengthen the financial and technological leadership of Dubai. The regulatory environment in the emirate is transparent and promotes the development of new digital markets with a responsible control system.

Dubai has been enhancing its globally recognized stance as a transparent and well-regulated financial hub. Another milestone towards realizing the D33 vision is the advancement that it has made in virtual assets. The city is still oriented toward innovation, governmental credibility, as well as economic growth that is sustainable.

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