Dubai has announced plans to construct a 17-story Crypto Tower, aiming to support the fast-growing blockchain and Web3 sectors.
The tower will offer 150,000 square feet of leasable space, providing a hub for Web3 innovation and development. The UAE is intensely competing with the US to become the premier blockchain hub.
Dubai’s Crypto Tower Will be Supported with Blockchain Integration
According to local reports, the crypto tower will integrate blockchain for tenant interactions and operations. On-chain voting, shared resources, smart contracts, and other automated systems will simplify processes.
This approach is expected to reduce administrative overhead and establish new standards in community management.
Nine floors will be dedicated to office spaces for crypto startups and established firms. Three additional floors will house blockchain incubators, venture capital firms, and investment groups.
There will also be one floor dedicated exclusively to AI initiatives.
“Dubai’s new 17-story Crypto Tower, announced by DMCC and REIT Development, will cater to blockchain, DeFi, and Web3 businesses. The tower, set to open in 2027, will also host a crypto club and event spaces for blockchain networking,” wrote Mario Nawfal.
The design includes a 10,000-square-foot indoor event area alongside a 3,500-square-foot outdoor venue for crypto and blockchain events.
Also, the top three floors will feature a 30,000-square-foot crypto club. The club will be designed for networking and leisure activities.
Dubai is Racing to Become the Blockchain Capital
Other highlights include an NFT art gallery, a gold bullion shop, and an exotic car dealership. Reports also suggest there will be a secure vault with 5,000 square feet of space for storing valuables such as gold, cash, and cold wallets.
The tower’s construction is scheduled for completion by Q1 2027, with operations beginning soon after. Dubai continues to solidify its reputation as a hub for blockchain and crypto innovation.
In December, TON DLT Foundation registered in Abu Dhabi under the ADGM’s framework, securing legal recognition for decentralized organizations. Chainlink Labs has also established a presence in the region through the Abu Dhabi Global Market (ADGM).
In October 2024, Ripple received regulatory approval from the Dubai Financial Services Authority (DFSA) to expand operations from the Dubai International Financial Centre (DIFC). Dubai’s Court of First Instance recognized crypto payments for salaries under employment contracts.
More recently, HashKey obtained a Virtual Asset Provider License from Dubai’s major regulator VARA.
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