Crypto Oasis identifies over 1,000 blockchain organisations in the UAE
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Crypto Oasis identifies over 1,000 blockchain organisations in the UAE

Crypto Oasis identifies over 1,000 blockchain organisations in the UAE

The updated target is to have over 1,500 organisations identified in the ecosystem by end of the year

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Crypto Oasis

Crypto Oasis, ​​the expansive ecosystem of blockchain-related organisations initiated out of the UAE, is growing faster than anticipated. The goal of 1,000 blockchain organisations in the ecosystem, which was originally set for the end of 2022, has already been met seven months ahead of schedule.

There are two types of organisations that are operating in the blockchain arena. Non-native blockchain organisations, which offer services or products connected to blockchain but do not have blockchain as their major emphasis, and native blockchain organisations, which have blockchain technology as their primary focus. Native organisations account for 53 per cent of all blockchain adoptions, while non-native organisations account for 47 per cent.

From Binance, Crypto.com, Kraken to XT.com, some of the largest players in the blockchain world are now setting up in the Middle East. The entry of various major international crypto exchanges proves ‌the region has become an international hub for blockchain.

Ralf Glabischnig, founder of Crypto Oasis said: “This is an exciting time for us as we exceed expectations considerably month after month. Our target for the year has been achieved already and we’re anticipating exceptional growth in the future. The first months of 2022 have already shown that the key pillars of growing and building the ecosystem are talent, capital and infrastructure. We believe we are still at an early stage but with the speed of development and growth that we see day by day across the community in this region, we look forward to further advancing the blockchain economy in the Middle East.”

“The growth of the Crypto Oasis ecosystem will continue exponentially in the coming months as we can witness how regulators in the region are welcoming innovation and disruption, making it simpler for blockchain-related companies to secure licence and operate. The revised expectation for the number of organisations in the UAE ecosystem by the end of 2022 is now 1,500 organisations from the 1,000 already achieved.”

Read: Crypto Oasis gears up to add up to 1,000 blockchain organisations

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