Dubai’s regulated crypto market tops $680 billion in transactions

In a recent Dubai government committee meeting between H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of the Economic and Financial Sector in the emirate of Dubai, it was announced that Dubai emerged as the world’s single largest licensed market for virtual assets with transaction volumes reaching AED 2.5 trillion equivalent to $680 billion dollars.

From the beginning of 2025 till today, virtual asset transaction volumes across regulated entities under VARA surged to nearly AED 2.5 trillion ($680 billion). Meanwhile, virtual assets under management exceeded AED 9.6 billion equivalent to $2.6 billion in 2025. This is driven by the increasing participation of large institutional players.

Virtual assets sector makes up 0.5% of Dubai GDP, set to grow to 3%

The meeting also revealed that the virtual assets sector contributes an estimated 0.5% to Dubai’s GDP, equivalent to approximately AED 2.2 billion or $500 million. Under the regulated VARA regime, the ecosystem is expected to scale responsibly and reach an estimated 3% GDP, reaching around AED 13 billion or $3.5 billion.

HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum in a LinkedIn Post stated, “Dubai currently stands as the world’s single largest licensed virtual assets market, with more than 40 licensed virtual asset service providers and trading volumes reaching AED 2.5 trillion since the beginning of the year.” He commended the pivotal role of Dubai’s VARA in enhancing transparency and solidifying the emirate’s standing as a global hub for virtual assets.

The city also hosts 600 registered service providers engaged in advisory, technology, or proprietary trading activities that do not require full regulation.

These achievements were highlighted as H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum chaired a meeting of the committee.

Dubai approves financial sector strategy

The meeting also witnessed the approval of the Dubai Financial Sector Strategy, a comprehensive roadmap designed to solidify Dubai’s position as a leading global financial hub, with key goals to double the financial sector’s contribution to the emirate’s GDP and grow the size of assets under management.

The strategy plans to launch 15 transformative programs over a three year period with opportunities for investors. It aims to boost market activity by encouraging the listing of more family businesses and startups. Simultaneously, it will foster growth in the asset and wealth management sector by developing legislation and policies that attract new asset managers and family businesses. The strategy also focuses on enhancing the role of small and medium enterprises in the national economy by developing innovative financing models that expand access to capital, ensuring the sustainability of SMEs and increasing their contribution to GDP.

The meeting was attended by Mohammad Al Gergawi, Vice Chairman of the Committee; Mohamed bin Hadi Al Hussaini, Omar Sultan Al Olama, Helal Saeed Al Marri, Essa Abdulfattah Kazim, Faisal Yousef bin Sulaitin, Fadel Abdulbaqi Al Ali, His Excellency Saeed AlEter, and Huda Sayed Naim Al Hashimi, Secretary General of the Committee.

The Higher Committee for the Development of the Economic and Financial Sector aims to endorse high-level economic and financial policies and strategies that support the realization of the Dubai Economic Agenda D33. The committee is tasked with coordinating efforts among relevant economic and financial entities to ensure integration of activities, promote sectoral competitiveness, and support the achievement of Dubai’s overarching economic and financial strategy.

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