The team at Gemini is pleased to announce that Gemini will soon “begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE).”
As a “forward-thinking,” global financial hub, the UAE is “continuing its tradition of leadership by establishing itself as a fast-emerging hub for crypto.”
By applying for a license, Gemini will be “taking another step towards making Gemini a truly global company and advancing our mission to unlock the next era of financial, personal, and creative freedom for all.”
This past week, as the second leg of Gemini’s global odyssey tour, they have “met with stakeholders throughout the region to learn more about local regulatory requirements and the needs of UAE crypto investors so that we can better serve this rapidly growing and vibrant crypto community.”
As part of Gemini’s 2022 Global State of Crypto Report, they took a look “at adoption of crypto globally across 20 countries.”
They found “that those in the UAE were rapidly acquiring crypto and putting it to use making in-person purchases.” They also “found high intent to purchase crypto among those who were not yet owners:”
More than 35% of those surveyed in the UAE “had purchased crypto, compared to only 20% of those in the US.”
Nearly 32% of non-owners in the UAE said “they are likely to purchase crypto in the next year.”
33% of those in the UAE “who own some crypto use it to make in-person purchases at brick-and-mortar retailers, compared to just 19% of owners globally.”
These findings, “coupled with our team’s enthusiastic conversations with regulatory stakeholders, startups, and other ecosystem participants this week, have further cemented our interest in investing in the UAE and becoming a part of its crypto community.”
Gemini’s application is their first step “towards providing customers in the UAE and beyond with a safe, secure, and easy-to-use platform to engage with crypto.”