06/09/2022
UAE is among the world’s most crypto-ready nations
A study by Forex Suggest claims that UAE is now in the top four countries most ready for cryptocurrency adoption. This trend within the country has been growing exponentially over the past five years.
The authors of this research analyzed countries across the globe by multiple factors, such as the number and accessibility of crypto ATMs in each country, legislation and taxes surrounding cryptocurrency, the number of blockchain startups, searches for crypto, etc. The only three countries that outraced UAE are Hong Kong, the US, and Switzerland. The UAE shares the fourth spot with three other countries including Georgia, Romania, and Croatia with a crypto-readiness score of 6.2 out of 10.
“Once only regarded as a speculative asset, many companies, governments, and individuals have realized its potential and embraced it as the future of financial technology. El Salvador even made history last year for being the first country to recognize Bitcoin as legal tender,” Forex Suggest study said.
The UAE also claimed the third top spot in the list of countries with the most blockchain startups and is placed fourth in the list of countries with the most interest in cryptocurrencies, the study shows.
