News

Binance Is Helping Dubai Become The World’s Crypto Capital

The goal is to create a special crypto zone and provide assistance to crypto-related businesses that are interested in becoming licensed in Dubai.

Published

3 years ago

January 6, 2022

David Morelo

Binance

Binance, the largest cryptocurrency exchange in the world, has recently signed a deal with the Dubai World Trade Centre Authority (DWTCA) to create an ecosystem for cryptocurrencies and other global virtual assets.

“With the MoU, Binance will help advance Dubai’s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation” said the Binance team in a statement. “Binance believes that Dubai’s new agenda will contribute to the growth of the global economy”.

To achieve this goal, Binance and DWTCA want to create a special crypto zone and provide assistance to crypto exchanges, businesses that offer blockchain, and Distributed Ledger Technology (DLT) services that are interested in becoming licensed in Dubai.

Because Dubai doesn’t want to associate itself with illegal activity, DWTCA will additionally act as a regulator and enforce investor protection standards, as well as anti-money laundering (AML) and Combating the Financing of Terrorism (CFT) laws.

At this point, we don’t know when the crypto zone will become operational. Binance and DWTCA have so far only signed a Memorandum of Understanding (MoU) that outlines their shared vision, but many technical and regulatory details have certainly yet to be worked out.

Also Read: 5 Gaming Cryptos That Will Explode In 2023

The project could be affected by the large regulatory pressure Binance is currently facing from regulators around the world.

For example, the Dutch central bank accused it of not complying with AML and CFT laws, the US Justice Department and Internal Revenue Service is probing the exchange to investigate money laundering and tax offenses, the UK’s Financial Conduct Authority has banned the Binance Group from operating in the UK, and the Securities and Futures Commission (SFC) has issued a warning to consumers, stressing that the company isn’t licensed to conduct regulated activity in Hong Kong.

It’s possible that Binance, which describes itself as a decentralized company with a global presence and whose corporate structure is opaque at best, is interested in establishing the crypto zone in Dubai to create a safe haven for itself.

Related Topics:Binance Cryptocurrency Dubai

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UAE’s Etihad Rail Launches In 2026 — What You Need To Know

A 1,200 km passenger network will transform public transport, with 11 connected cities, and high-speed trains cutting inter-emirate travel times.

Published

1 day ago

May 19, 2025

Nour Nasir

Etihad Rail

Etihad Rail has confirmed that its long-anticipated passenger train service will officially launch in 2026, ushering in a new era of high-speed, inter-emirate travel. The UAE’s national railway developer shared the announcement on X (formerly Twitter), as work continues on a 1,200 km passenger network set to connect 11 cities across all seven emirates.

The news marks a major leap in public transportation for the country, with passenger trains designed to reach speeds of up to 200 km/h. Travel times will be significantly reduced — Abu Dhabi to Dubai is expected to take just under an hour, while the journey to Fujairah will be cut to around 105 minutes. A separate high-speed line, capable of reaching 350 km/h, is also in the works to link Abu Dhabi and Dubai in just 30 minutes.

The backbone of the network was completed in 2023, when Etihad Rail launched its 900 km freight service linking key industrial and logistics hubs across the UAE, including ports in Abu Dhabi, Dubai, and Fujairah. Now, the focus has shifted to passenger infrastructure.

The first station will be located in Sakamkam, Fujairah city centre, and a second is confirmed near University City in Sharjah. Dubai’s main station is expected to be adjacent to Jumeirah Golf Estates Metro Station, while Abu Dhabi’s is anticipated along the corridor separating Mussafah Industrial Area and Mohammed Bin Zayed City.

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Once completed, the passenger network will link cities including Al Sila, Al Ruwais, Al Mirfa, Dubai, Sharjah, Al Dhaid, Abu Dhabi, Ras Al Khaimah and Fujairah. Integration with Oman is also part of the long-term vision. A new cross-border project — Hafeet Rail — will span 303 km between Sohar and Abu Dhabi’s Al Wathba area. Developed by Etihad Rail in collaboration with Oman Rail and Mubadala, the link is expected to deepen trade and tourism ties between the two countries.

Etihad Rail’s passenger trains will carry up to 400 passengers each and feature Wi-Fi, entertainment systems, charging points, and onboard food and beverage options to ensure a comfortable experience. To further simplify access, passengers will be able to pay with their nol cards, thanks to a partnership between Etihad Rail and Dubai’s Roads and Transport Authority (RTA). The collaboration aims to integrate fare payments and booking systems under one unified platform.