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- Zafar Naik
Zafar Naik
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Oct 13, 2025 11:02 UTC
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Sheikh Maktoum Declares Dubai World Leader in Licensed Virtual Assets
Dubai becomes the world’s largest licensed virtual assets market, with AED 2.5 trillion in transactions this year.
VARA oversees 40+ licensed crypto service providers, driving transparency and institutional participation.
Dubai’s Financial Sector Strategy launches 15 programs to grow capital markets, fintech, SMEs, and virtual assets.
Dubai is now the world’s biggest licensed virtual assets (VA) market. On the third anniversary of the Dubai Virtual Assets Regulatory Authority (VARA), Sheikh Mohammed bin Rashid Al Maktoum announced that year-to-date VA transactions have already crossed AED 2.5 trillion.
“A completely new economic sector has been added to our national economy,” he said, highlighting Dubai’s rapid growth in digital finance.
VARA Powers Dubai’s Crypto Growth
Three years ago, Dubai introduced the world’s first law regulating virtual assets, and set up VARA to oversee the market. Today, the authority manages over 40 licensed virtual asset service providers (VASPs) and more than 600 registered advisory or tech service providers.
Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, said: “This reflects the vision of Sheikh Mohammed bin Rashid Al Maktoum, who issued the world’s first law regulating virtual assets three years ago to cement Dubai’s leadership in future economic and financial sectors.”
VARA’s framework has made Dubai a secure and transparent hub for investors, attracting both local and international players.
Dubai Financial Sector Strategy
Dubai isn’t stopping at regulation. On October 12, the Dubai Financial Sector Strategy was approved, outlining 15 transformative programs over the next three years. These programs focus on capital markets, asset and wealth management, SME financing, virtual assets, and fintech.
The strategy aims to double the financial sector’s contribution to Dubai’s GDP, encourage family businesses and startups to list publicly, and attract new asset managers.
It also focuses on SME financing, creating access to capital and boosting their role in the economy.
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Market Performance: DFM and IPO Highlights
Dubai’s financial markets are already feeling the impact. The Dubai Financial Market (DFM) General Index is up 14.7% this year, the highest since 2008. Total market capitalization has reached AED 1 trillion. Notable offerings include the AED 1.4 billion IPO of ALEC Holding and a secondary public offering for DU valued at AED 3.15 billion.
Meanwhile, VA assets under management have hit AED 9.6 billion, reflecting strong participation from large institutional investors.
Dubai on the Global Stage
Dubai is climbing the global financial ladder. Ranked 11th in the Global Financial Centers Index, it leads all hubs in future growth potential. VARA is strengthening the virtual assets ecosystem, while the Financial Sector Strategy is driving innovation across capital markets, fintech, and SME finance.
Sheikh Maktoum summed it up: “We remain committed to advancing our financial and economic ecosystem, and ensuring that Dubai continues to serve as a global model for emerging economic sectors and the leading hub for future economy.”
Dubai is proving to be a global powerhouse for digital finance.
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FAQs
Yes, Dubai is the world’s largest licensed virtual assets market, with over AED 2.5 trillion in transactions and a comprehensive regulatory authority (VARA).
VARA is Dubai’s Virtual Assets Regulatory Authority, the world’s first dedicated regulator for the crypto sector, overseeing licensed providers and ensuring market security.
The Dubai crypto market is massive, with year-to-date virtual asset transactions exceeding AED 2.5 trillion, cementing its status as a global digital finance leader.
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