Dubai has emerged as the world’s largest licensed virtual assets market, with year-to-date transaction volumes across regulated entities under the Dubai Virtual Assets Regulatory Authority (VARA) reaching nearly AED2.5 trillion.
The milestone highlights the emirate’s growing influence as a global financial hub.
The achievement stems from the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who issued the first law regulating virtual assets three years ago and established VARA to drive Dubai’s leadership in future financial sectors.
During a meeting of the Higher Committee for the Development of the Economic and Financial Sector, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, approved the Dubai Financial Sector Strategy. The strategy outlines 15 transformative programmes over three years aimed at strengthening capital markets, asset and wealth management, SME financing, FinTech, and virtual assets.
The plan seeks to double the financial sector’s contribution to Dubai’s GDP, expand assets under management, and attract family businesses and startups to boost market activity. It also introduces innovative financing models to enhance SME participation in the economy.
Dubai currently hosts over 40 licensed virtual asset service providers and more than 600 registered advisory and technology entities. VARA’s regulated framework has positioned the emirate as a secure, innovative, and transparent hub for virtual assets, with the sector projected to grow to 3% of GDP, or around AED13 billion.
The Dubai Financial Market has also seen strong performance in 2025, with a 14.7% increase in its General Index and total market capitalization reaching AED1 trillion. Key IPOs and secondary offerings have further cemented Dubai’s position as a leading global financial centre.
The Higher Committee continues to coordinate strategies, policies, and initiatives to maintain Dubai’s competitiveness, attract investors, and ensure the emirate’s sustainable economic growth.
News Source: Emirates News Agency
