WHAT IS DMCC
With over 12,000 registered enterprises under license, the Dubai Multi Commodities Center is known as the world’s fastest expanding and biggest Free-Zone. It is a government agency that was founded in 2002 to improve commodity trade flows via Dubai. It serves a variety of functions that have solidified Dubai’s position as a regional and worldwide commodities trading hub.
WHAT DID THEY DO RECENTLY
By the end of 2021, only a few months after launching their new Crypto Centre, DMCC recorded 151 blockchain and crypto firms.
DMCC’s focus on the sector was further emphasized by the release of two special issues of “Future of Trade”, which focused on the decentralized finance (DeFi) sector and its influence on commerce, with blockchains and other cryptographic technologies poised to alter present financial institutions.
WHAT IS A DMCC LICENSE
The DMCC license allows individuals and companies to conduct business on the free zone’s land.
“We have been able to attract a wide spectrum of top organizations whether investment entities, FinTech, and others,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of the UAE-based DMCC.
Binance crypto exchange, RAIN crypto exchange, Evai, EHOLD, Revomon, Xfinie, EX Sports, Bonuz, Fractionvest, SingularityDAO, VDO, ai, and Yieldster are among the crypto blockchain companies that have joined.
METAVERSE SERVICE PROVIDER LICENSE
The Metaverse Service Provider license, which is for those active in the hosting and development of virtual environments, was recently published by DMCC. It is vital to note that this license does not permit the trading of crypto assets or the creation and issuance of exchange-tradable tokens.
They also provide an NFTs E-Marketplace platform where you may trade NFTs. Its goal is to make interactions between counterparties easier. It is illegal to trade or promote crypto assets.