Dubai Becomes World’s Largest Regulated Virtual Assets Market

Dubai has officially become the world’s largest regulated market for virtual assets. The total value of virtual asset (VA) transactions this year has reached nearly AED2.5 trillion under the supervision of the Virtual Assets Regulatory Authority (VARA). This great achievement highlights Dubai’s strength as a modern financial hub that supports future digital economies.

Vision of Sheikh Mohammed bin Rashid

This success is a direct result of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai. Three years ago, he introduced a new law to regulate virtual assets, making Dubai the first city in the world to create such a detailed and secure regulatory system. He also established VARA to develop this fast-growing financial sector and attract global investment.

Sheikh Maktoum Chairs High-Level Meeting

His Highness 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, led a key meeting to review Dubai’s financial progress. During the meeting, he approved the Dubai Financial Sector Strategy, a plan designed to strengthen Dubai’s global financial leadership and double the contribution of the financial sector to the city’s economy.

Dubai Financial Sector Strategy Unveiled

The newly approved strategy aims to grow Dubai’s financial assets and attract more international investors. It focuses on important areas such as capital markets, asset management, virtual assets, fintech, and small business financing. The plan also introduces 15 major projects to be completed in the next three years. These initiatives will make Dubai’s financial system more innovative, sustainable, and globally competitive.

Growing the Financial Hub

Sheikh Maktoum said that the new financial strategy will help Dubai achieve its dream of becoming one of the top three financial hubs in the world. He explained that Dubai will continue to offer excellent opportunities for investors, increase confidence in the local market, and promote innovation. He praised the Dubai Financial Market (DFM) for its strong performance and called for more efforts to meet international standards and attract more local and foreign investments.

VARA’s Role in Strengthening Dubai’s Financial Image

VARA has played an essential role in Dubai’s rise as a leading global center for virtual assets. The authority ensures safe and transparent digital trading while creating a strong regulatory structure. Sheikh Maktoum noted that VARA’s efforts have helped Dubai gain international recognition for financial innovation and digital economy development.

Record Achievements in 2025

The meeting also discussed Dubai’s outstanding financial performance this year. The Dubai Financial Market Index grew by 14.7%, reaching its highest level since 2008. Total market value hit AED1 trillion in 2025. The DFM successfully completed the AED1.4 billion IPO of ALEC Holding and a AED3.15 billion secondary public offering for telecom firm DU. These achievements reflect growing investor confidence in Dubai’s financial environment.

Expanding the Virtual Assets Sector

VARA continues to lead the development of the virtual assets industry. More than 40 licensed virtual asset service providers (VASPs) now operate in Dubai, the largest number of licensed entities globally. In addition, over 600 registered firms work in advisory, technology, and trading services. The virtual asset industry already contributes around AED2.2 billion to Dubai’s GDP—about 0.5%—and is expected to rise to 3% in the coming years, reaching AED13 billion.

Dubai’s Rising Global Ranking

Dubai’s strong economic and financial performance has also improved its global position. In the latest Global Financial Centers Index, Dubai ranked 11th in the world, up from 16th last year. Experts predict Dubai will continue to rise and secure a place among the top ten centers soon. This steady progress shows the emirate’s ability to attract international investors, companies, and innovative entrepreneurs.

Building a Future-Ready Economy

The Higher Committee for the Development of the Economic and Financial Sector focuses on shaping Dubai’s financial future. It coordinates policies among key institutions to ensure smooth growth and high competitiveness. The committee also monitors global changes in finance and technology to help Dubai remain flexible and strong in a changing world economy.

A Global Model of Financial Innovation

Through continuous improvement and innovation, Dubai has become a global example of financial development. Its transparent systems, modern laws, and supportive business environment attract investors from all over the world. The leadership’s vision ensures Dubai remains a trusted hub for virtual assets, financial services, and smart economic solutions—paving the way for the emirate’s continued success in global finance.