Dubai is the second most crypto-ready city in the world, according to a report by cryptocurrency asset management specialist Recap.
Dubai placed behind only London in a ranking of global hubs best-placed to host cryptocurrency investment and businesses.
According to Recap the emirate has 772 crypto-based companies and the city’s inviting business environment attracts overseas investors.
The UAE city also scored well in Recap’s quality of life rankings.
Recap ranked world cities by:
- Crypto-specific events
- Crypto-related employment numbers
- Crypto companies
- R&D spending as a percentage of GDP
- Availability of crypto ATMs
- Capital gains tax rate
- Crypto ownership
- Quality-of-life
A Recap spokesperson said: “Dubai comes in second place as it pushes to become the leading centre for cryptocurrency and blockchain technology in the Middle East, following a year of multiple new laws for crypto exchanges to operate in the city.
“One recent YouGov survey also found that two-thirds of UAE adults are interested in cryptocurrency.
“With low tax, Dubai is an appealing place to live for crypto investors, and may be the second choice for some UK residents, as Holborn Assets revealed 200,000 Britons currently reside in the city.
“Dubai also has 772 crypto-based companies for residents to choose from when it comes to finding a career in the sector. The city also has a high quality of life with a score of 175.84 – the seventh highest overall.
Dubai the second most crypto-ready hub in the world
- London
- DXB
- New York
- Singapore
- Los Angeles
- Zug,
- Hong Kong
- Paris
- Vancouver
- Bangkok
- Chicago
- Berlin
- Sapporo
- Lagos
- Lisbon
- Kuwait City
- Tehran
- Sydney
- Osaka
- Kuala Lumpur
Riyadh and Jeddah were ranked 22nd and 25th by Recap.
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