The Dubai Multi Commodities Centre (DMCC) said that it had registered its highest number ever of new companies in 2021, attributing it to factors such as the launch of the DMCC Crypto Centre.

The centre said it had registered 2,485 new companies during the year, up from 2,025 in 2020, taking the total to 20,000.

“Significant attraction was seen in key target markets, including China, US, UK and Russia, demonstrating Dubai’s continued commercial appeal, and the ease of setting up and doing business at DMCC,” the centre said in a press release.

Ahmed Bin Sulayem, executive chairman and CEO, DMCC, said: “This year, I have seen first-hand how crypto interlinks across our industries, so I am proud that DMCC is championing the cryptographic space in Dubai.”

DMCC, in partnership with CV Labs, inaugurated the DMCC Crypto Centre, an ecosystem for businesses operating in the cryptographic and blockchain sectors, in May 2021.

In April, the centre also signed a land and sale purchase agreement with REIT Development to establish a precious metals refinery and storage facility, which it said was the largest in the GCC and the first to be completely enabled by blockchain.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

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