The crypto sector in the United Arab Emirates (UAE) is on track to become its second-largest industry in the next five years, due to the country’s regulatory policies and attractive business environment, according to Chase Ergen, a board member of publicly traded digital asset investment firm DeFi Technologies.

“They have a reputation for leadership, legislation, and community,” Ergen told Cointelegraph in an interview. He also predicted:

“They sell oil, that’s their main business. I think their second-biggest business is going to be the blockchain industry in the next five years. This will start to be double-digit parts of the economy.”

The country has a clear crypto regulatory framework, a community of key crypto industry executives, a debt-free economy that allows the government to funnel surplus into tech investments, low crime, attractive tax policies, and forward-thinking leadership, Ergen added. 

The UAE has created a moat that has made it the undisputed hub for crypto and tech in the Middle East and Africa (MENA) amid growing nation-state adoption of crypto and the race between sovereign powers to become global leaders in the digital finance age.

Related: Dubai and UAE move to align crypto frameworks under new partnership

Nation-state crypto adoption ramps up in 2025

Nation-state crypto adoption accelerated in 2025, following the inauguration of president Donald Trump in the United States and the regulatory shift that followed.

The Trump White House released its long-promised crypto report in July, outlining the administration’s plan to make the US the global leader in crypto.

Pakistan’s government reversed its long-held opposition to cryptocurrencies in November 2024, one day before the US presidential election.

Since that time, Pakistan has established a national Bitcoin reserve and appointed a national crypto council to craft a comprehensive digital asset regulatory framework within the country.

Sovereign wealth funds, including the UAE’s Mubadala and Norway’s sovereign fund, have exposure to Bitcoin (BTC) through exchange-traded funds (ETFs) and other investment vehicles.

Norway’s sovereign wealth fund, the largest state-directed investment fund of its kind in the world, increased its Bitcoin exposure by 192% over the last year, according to crypto research firm K33.

Magazine: Saudi Arabia’s Riyadh may be crypto’s sleeping giant: Crypto City Guide

]]> https://earlybirdsinvest.com/crypto-to-become-uaes-second-biggest-sector-in-5-years-institutional-investor/feed/ 0 53541 https://earlybirdsinvest.com/ethereum-altcoin-explodes-68-after-koreas-second-biggest-crypto-exchange-announces-trading-support/ https://earlybirdsinvest.com/ethereum-altcoin-explodes-68-after-koreas-second-biggest-crypto-exchange-announces-trading-support/#respond Sun, 23 Mar 2025 11:08:29 +0000 https://earlybirdsinvest.com/ethereum-altcoin-explodes-68-after-koreas-second-biggest-crypto-exchange-announces-trading-support/

An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange.

In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset.

News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours.

In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents.

Explains Across Protocol,

“Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path.

In practice, intents manifest as a combination of a cross-chain limit order and an action to execute, all encoded within a standardized order structure. Relayers compete on cost and speed to fill these orders, which can include on-chain actions as well as assets. Relayers deliver very quickly, without any messages.

From the user’s perspective, interoperability is solved. Their desired outcome is achieved.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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