Bitcoin sets up regional HQ in Dubai's DMCC
The world's largest cryptocurrency, Bitcoin, has set up its regional headquarters in Dubai's DMCC as it plans to build partnerships across the region.
The new base will be in DMCC's Crypto Centre, which is home to over 650 companies operating across the blockchain and digital asset value chain.
Dubai has emerged as a hub for the crypto industry as it advances its ambitions to become a global tech hub. The emirates launched the Virtual Assets Regulatory Authority (VARA), the first independent regulator dedicated to virtual assets in the world.
Bitcoin jumped over 11% in May to an all-time high of $111,970 before retreating. It is currently at $106,722.
(Writing by Brinda Darasha; editing by Seban Scaria)
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