"Dubai, and the UAE overall, is a world class example of dealing with a pandemic. Now you see talent internationally, from all parts of the world, wanting to move to Dubai," said Ola Doudin, co-founder of BitOasis, a cryptocurrency platform. "We're definitely seeing Dubai leading that race, competing with other financial hubs and really positioning itself as a global crypto hub," Doudin said. But that bet on crypto comes at a time when there's rising investor apprehension toward the digital currency market, amid high-profile hacks, collapsed "stablecoins," and steep drops in crypto prices. So will the emirate's bet the volatile crypto industry catapult it to success or leave it in the dust?

Source: The North Africa Journal August 08, 2022 02:51 UTC