The UAE has firmly established itself as a burgeoning startup nation, fostering an environment conducive to innovation and attracting a diverse array of global talent. This transformation was underscored by Sheikh Saud bin Saqr Al Qasimi during his keynote address at the Digital Assets conference in Ras Al Khaimah. His remarks emphasized the UAE’s emergence as the premier hub for digital assets in the Middle East, drawing significant interest from both regional and international investors. The proactive regulatory measures implemented by authorities in Abu Dhabi, Dubai, and Ras Al Khaimah have been pivotal in this transition, enabling the UAE to evolve from a regional player to a global powerhouse in the digital asset landscape.
Ras Al Khaimah is leading the charge with initiatives like the Digital Assets Oasis (DAO), a dedicated free zone aimed at attracting top-tier companies and promoting digital growth. The recent Building the Future – RAK DAO Conference exemplified this commitment, bringing together over 2,000 industry leaders and showcasing the emirate’s dedication to digital innovation. Sheikh Saud highlighted that the digital assets market in the UAE is on track to generate approximately $270 million by year-end, setting a strong foundation for future expansion. He believes that RAK DAO will act as a catalyst for exponential growth in the coming years.
The UAE’s ambition to become a global leader in the digital economy is further reflected in its strategic initiatives, such as the UAE National Strategy for Artificial Intelligence 2031. This strategy aims to harness AI for economic development and enhance citizens’ quality of life. Sheikh Saud noted that RAK DAO serves not just as a regulatory framework but as an ecosystem fostering collaboration among entrepreneurs, investors, and developers with its world-class infrastructure and progressive regulations.
The emirate is already witnessing tangible results from its vision, with leading blockchain and digital asset companies choosing Ras Al Khaimah as their base due to its supportive environment. In just one year, RAK DAO has made significant strides by forming strategic partnerships that position it as a key player in the global digital asset arena. Sheikh Saud concluded by asserting that ongoing investments will generate high-value jobs and attract foreign direct investment, solidifying Ras Al Khaimah’s status as a leader in the digital economy.
