Dubai is taking steps to solidify its position as a global financial powerhouse, unveiling a comprehensive reform plan outlined by the Dubai Government Media Office. Dubbed the ‘Dubai Financial Industry Strategy’, this framework targets virtual assets, capital markets, and fintech as key drivers for future economic expansion. The strategy aims to bolster Dubai’s digital asset infrastructure, currently a leader in its field, and drive a shift from traditional financial services to digital finance solutions. The UAE Virtual Asset Law established three years ago has facilitated the growth of the virtual asset industry within the emirate. Currently contributing around 0.5% to Dubai’s GDP, or about $600 million, the sector is projected to reach an estimated 3%, or $3.5 billion in contributions by expanding further.