BlockBeats News, October 13th. According to Caixin, Dubai recently launched a comprehensive financial reform plan aimed at propelling itself into the ranks of the world’s top three financial centers. The Dubai Government Media Office stated that under the new “Dubai Financial Industry Strategy” framework, virtual assets, capital markets, and financial technology will become key pillars for Dubai’s future economic growth. According to the Dubai government’s plan, Dubai will leverage this financial industry reform plan to accelerate the upgrading of Dubai’s already leading digital asset infrastructure, promoting the transformation of traditional finance into digital financial services.
The virtual asset industry was established three years ago based on the UAE Virtual Asset Law and currently contributes approximately 0.5% to its GDP, which is around 22 billion dirhams (approximately $6 billion). As the ecosystem of virtual assets continues to expand, Dubai aims to increase this contribution to around 3%, equivalent to 130 billion dirhams (approximately $35 billion).
