Dubai's Commercial Center Signs Agreement with Binance to Become the World's Largest Cryptocurrency Hub

The Dubai World Trade Center Authority has signed an agreement with Binance, the largest platform for cryptocurrency trading and digital assets globally, to establish a new center for the global virtual asset industry. A memorandum of understanding was signed to outline the vision for the establishment of the center, where it was reported that Binance will assist in advancing Dubai's commitment to creating an environment for global virtual assets, generating long-term economic growth through digital innovation. The platform will share its expertise in collaboration with global regulatory entities to help develop advanced virtual asset systems. The goal is to help cryptocurrency exchanges and businesses offering blockchain technology and distributed ledger technology services become licensed in Dubai. It is noted that Binance's daily trading volume is $80 billion, with 29 million users of the platform worldwide.