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Coinweb set to establish presence in UAE, Saudi in H1 2023, says CEO Gilbert

Coinweb and its group company Onramp, already have 7 digital asset consents and licenses.

Coinweb is firmly on the roadmap to establish its presence in UAE and Saudi Arabia in H1 2023, Toby Gilbert, CEO and Co-Founder told Khaleej Times in an exclusive interview.

"In line with the UAE’s drive to become a world-class financial hub, its policy on crypto has demonstrated how forward-thinking the government has become. This is helped by the power structure in the country, where a decision made at the top, enables policy to be formed and implemented far faster than in other countries around the world, which are still struggling to introduce robust frameworks that give digital asset businesses the confidence to invest and build," said Gilbert.

"A clear indicator of how successful this policy is to date is not only the quality of the crypto events that Dubai is delivering including the next Satoshi Round Table in February 2023 but also the largest crypto exchanges in the world basing large parts of their operations in-country including Binance, FTX, and Bybit."

Coinweb and its group company Onramp, already have no less than 7 digital asset consents and licenses around the world including Canada, Singapore, the UK, Ireland, Poland, Lithuania, and Estonia.

"Dubai is the natural next step to make an application to the Dubai Virtual Assets Regulatory Authority (VARA), enabling corporate businesses and blockchain ecosystem projects to build on top of the Coinweb protocol in the UAE, ensuring liquidity via fiat on and off ramping. We are also looking into active participation in various local summits and events once our core products are launched in Q4 2022," added Gilbert.

Due to the regulatory framework delivering confidence to builders to base themselves in the UAE (and wider region), crypto has become visible to the general public driving adoption. — sandhya@khaleejtimes.com