The Dubai Multi Commodities Center (DMCC) Crypto Hub has hit a new milestone, with more than 500 Web3 and blockchain companies registered in the center by 2022. According to the statement, it reflects the high demand for space in the area. DMCC Executive Chairman and CEO Ahmed Bin Sulayem said that the impressive performance shows the value the center brings to its members.
DMCC Crypto Hub Reaches Milestone
UAE-based Dubai Multi Commodities Center (DMCC), revealed that the demand for space in its ‘Crypto Hub’ has seen a significant increase, with the number of registered Web3 and blockchain companies with the site reaching 500 by the end of 2022. This was accompanied by a 23% annual growth in the number of registered members, which went from 2,485 in 2021 to 3,049 at the end of 2022.
Commenting on the achievement, DMCC Executive Chairman and CEO Ahmed Bin Sulayem said:
The strong macroeconomic outlook in the region has enabled DMCC to effectively accelerate its growth strategy in 2022. The focus of its members on high impact sectors such as web3 or blockchain technologies, commodities, global trade and global commerce is what DMCC is all about. This year’s record performance reflects the acceleration in growth and highlights the substantial value DMCC brings to each member.
The CEO also pointed out that the number of registrations for new companies may indicate the level of investor confidence in the emirate.
Meanwhile, DMCC Chief Operating Officer (COO) Feryal Ahmadi and CEO Jeremy Davidson suggested that the organization should look for ways to “leverage its position of strength by further improving its services and offerings”, as well as forging new partnerships around the world.
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