Dubai Embraces Virtual Assets: Key Pillar of Financial Strategy

Dubai’s new financial strategy places virtual assets at the forefront of its industry ambitions. The initiative seeks to boost the sector’s contribution to the GDP by 3%, equivalent to a significant 13 billion dirhams in value. This strategy is overseen by the Dubai Virtual Assets Regulatory Authority (VARA), which has witnessed impressive growth, with institutions recording a total transaction volume of 2.5 trillion dirhams this year and assets under management (AUM) soaring to 9.6 billion dirhams.