The crypto industry in UAE is riding through a tumultuous high with individual investors and enterprises streaming in for opportunity and refuge.
The international blockchain development company HashCash Consultants believes they have had a significant role in taking the country to scale up activities in the crypto-sphere. The formerly rudimentary crypto sector of UAE has received a boost from a stream of foreign investors. HashCash, apparently, has made a sizeable contribution to the sudden transformation in this space.
“Today the search results relating to crypto in UAE returns reports of Russians liquidating crypto in the UAE for real estate to get their assets out of Russian jurisdictions,” comments Raj Chowdhury blockchain pioneer and HashCash chief. Evidently, global investors seek refuge in the Gulf state every time their fortunes are at risk. The time is now for crypto and the state is ready to take a stash of Bitcoins for real estate. UAE is also welcoming the crypto-enterprises that are now looking to move base from Russia.
Singapore, Malta, Vanuatu have allowed the crypto industry to flourish for long. Vanuatu and Malta are even known for offering citizenship to bitcoin owners. “Such crypto-power was formerly wielded by Singapore and other countries of Oceania that was considered the supreme crypto hub offering refuge to crypto enterprises and individual owners.”
HashCash has accomplished multiple successive projects in the crypto domain spanning the greater portion of the past year. The company still has a team in the UAE working on their current project.
“It is, therefore, safe to assume that we have been a significant part of the crypto-revolution in UAE,” smiled Chowdhury.
On the development front, HashCash has announced its participation in building a consortium for a digital media brand. It has also provided a blockchain solution to a NY-based luxury brand to secure its design authenticity. It has also been in limelight for providing crypto exchange technology across the MENA region.
HashCash CEO is a known advocate of decentralized technologies. He has predicted the crowd shift from pure Forex to Forex-crypto integrated technology. On a separate occasion, he has predicted a trend of novice traders flocking to CFD trade.
The transformation that came forth in the crypto space in the UAE had begun in mid-2021 with the onslaught of ventures in the decentralized realm. Crypto exchanges were among the first enterprises to sprout in this region. It was followed by payments and fund transfers comprising the overall growth in this sector. DeFi, NFTs, and Metaverse are catching up.