Dubai Becomes the World’s Largest Licensed Market for Virtual Assets
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced that Dubai has officially become the world’s largest licensed market for virtual assets, with transactions exceeding AED 2.5 trillion since the start of 2025.
A Milestone in Dubai’s Digital Economy
In a post shared on his official X (formerly Twitter) account, His Highness stated:
“Three years ago, we made the decision to establish a new authority — the Dubai Virtual Assets Regulatory Authority (VARA) — under the supervision of Sheikh Maktoum bin Mohammed.
Today, Dubai stands as the world’s largest licensed market for virtual assets, with transactions exceeding AED 2.5 trillion since the beginning of the year.”
A New Economic Frontier
His Highness highlighted that the establishment of VARA has created a completely new economic sector within just three years, contributing significantly to the UAE’s national economy.
“Thank you, Maktoum bin Mohammed. With you, we are confident in the future of our national economy,” he added.
Building the Future of Finance
Dubai’s achievement reinforces its position as a global hub for innovation, fintech, and blockchain regulation, attracting investors, institutions, and entrepreneurs from around the world seeking a transparent and well-regulated virtual asset environment.
