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Dubai Is Set To Become A Metaverse & Blockchain Hub
The city has already established itself as the global capital of Web 3.0, hosting a vast array of metaverse and blockchain technology and startups.
Having already adopted a comprehensive “Metaverse Strategy“, Dubai has made rapid progress as a smart city of the future, using a carefully crafted regulatory framework to attract innovation and talent to its modern, tech-central environment.
Although the metaverse — a blockchain-based virtual world — is still in its early stages of development, it promises to deliver massive potential for millions of users over the coming years, shaking up the entire world’s economy and online culture.
The global market share of the metaverse is thought to have the potential to reach $1.6 trillion by 2030, with tech giants such as Facebook, Google, and Nvidia heavily invested in Web 3.0 development. For that reason, the UAE is already aiming to be a market leader, with over 1,000 metaverse-related companies headquartered in the region.
“From retail shopping to healthcare and manufacturing, the metaverse is becoming pervasive in countless industries. It is transforming industries by expediting virtual operations seamlessly and offering business opportunities for investors,” says Pratik Rawal, Managing Partner, Ascent Partners.
Also Read: Everdome Announces First-Ever Metaverse Soundtrack
Dubai’s strategy aims to funnel $4 billion of the UAE’s GDP into related projects over the next five years, bringing an estimated 40,000 virtual jobs to the metaverse by 2030. Augmented reality and blockchain projects currently bring over $500 million to UAE’s economy, with the Dubai World Trade Center (DWTC) accounting for a sizable portion of that figure.
As the metaverse builds into a thriving, heavily populated augmented-reality world, Dubai and the whole of the UAE will be poised to become the epicenter of this advanced technological revolution, bringing all of the benefits of blockchain, cryptocurrency, and augmented reality to the everyday lives of users worldwide.
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Checkout.com Set To Launch Card Issuing In The UAE
The payment service provider’s expansion is a first-of-its-kind investment and could reshape digital transactions across the region.
Checkout.com is laying the groundwork to become the first global payments platform to introduce card issuing in the United Arab Emirates — a move that could reshape how businesses in the region manage financial transactions.
The company plans to roll out its domestic card issuance offering in the UAE by 2026, subject to regulatory approval. The launch would give businesses the tools to issue both physical and virtual branded cards. This, in turn, opens up new ways to reward customers, streamline expense processes, and handle B2B payouts efficiently.
Checkout.com’s CEO and Founder, Guillaume Pousaz, revealed the plans during Thrive Abu Dhabi, the firm’s debut conference in the Emirates. Joined on stage by Remo Giovanni Abbondandolo, General Manager for MENA, Pousaz presented to an audience of over 150 partners and merchants at Saadiyat Island. Also in attendance was H.E. Omar Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications.
Abbondandolo highlighted the strategic importance of the announcement: “As a global business, we focus on bringing products to markets that our customers want and need. Today’s announcement is proof of our commitment to the MENA region and its rising influence in the digital economy. The appetite for innovation here is real, and we’re proud to be building the infrastructure that powers it”.
One early adopter of Checkout.com’s UAE acquiring services is Headout, a travel experiences marketplace, which recently named the payment provider as its main partner in Europe. The company has already begun card issuing there and is keen to expand that offering into MENA once approval is granted.
The expansion of services in the UAE and beyond builds on Checkout.com’s track record in the region. It was the first global payments firm to secure a Retail Payment Services license from the UAE’s Central Bank and was instrumental in rolling out Mada and Apple Pay in both the UAE and Saudi Arabia.
Also Read: Protecting Your WhatsApp Account From Hackers: Kaspersky Expert Tips
The firm has also been rolling out new products: One of the latest is Flow Remember Me, currently in beta testing. It allows shoppers to store their card information once and access it across Checkout.com’s entire network, potentially cutting checkout times by up to 70%.
Earlier this year, Checkout.com also introduced Visa Direct’s Push-to-Card solution in the UAE, enabling both domestic and international payouts. Its collaboration with Mastercard has grown as well, making it easier for businesses to send funds directly to third-party cards securely and quickly.
With regional tech ambitions on the rise — spurred by initiatives like Saudi Arabia’s Vision 2030 and the UAE’s 2031 Agenda — Checkout.com sees its role as one of a key enabler. “Our mission is to help ambitious businesses navigate the complexity of payments, so they can move faster, go further, and make the most of every opportunity,” said Abbondandolo. “In MENA, performance is personal. It’s local. It’s built on trust. And when payments perform, businesses thrive”.
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