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UAE emerges as 'startup nation' as it breaks barriers, welcomes talent from around the world, RAK Ruler says

Many global digital asset companies, such as Binance, have established their presence in the country

The UAE has emerged as a startup nation, breaking barriers to create an environment where diverse global talents can pursue their dreams and ambitions, Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah said during a keynote speech at the Digital Assets conference in Ras Al Khaimah on Friday.

Sheikh Saud highlighted that the UAE is now recognised as the leading hub for digital assets in the Middle East, attracting both regional and international investors. "Everything you see here is a startup. We have managed to break barriers by embracing the future and welcoming diverse talents from around the world, helping them pursue their dreams, ambitions, and success," Sheikh Saud said.

Due to proactive measures from regulatory authorities in Abu Dhabi, Dubai, and Ras Al Khaimah, the UAE has transitioned from a regional to a global hub for digital assets. Many global digital asset companies, such as Binance, have established their presence in the UAE.

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Ras Al Khaimah has taken significant steps by setting up Digital Assets Oasis (DAO), a free zone designed to attract top-tier companies and advance digital growth in the emirate and across the country.

Digital Assets Oasis hosted the Building the Future – RAK DAO Conference on Friday attracted over 2,000 senior industry executives and professionals from the UAE and other countries around the world, showcasing the emirate’s commitment to digital innovation.

Sheikh Saud pointed out that the digital assets market in the UAE is projected to generate around $270 million by the end of this year, laying a strong foundation for future growth. "We believe that RAK DAO and this conference can be the catalyst, the spring for exponential growth in the years to come,” the UAE Supreme Council member said.

Highlighting the UAE's ambition to become a global leader in the digital space, Sheikh Saud referenced initiatives like the UAE National Strategy for Artificial Intelligence 2031, which aims to use AI for economic development and improved quality of life. "Ras Al Khaimah is actively contributing to this digital journey," he said.

"The creation of RAK DAO as the first free zone dedicated to digital and virtual assets is a testament to our commitment to digital transformation and our amazing vision to be not only the enablers but the creators of innovation," the Ras Al Khaimah Ruler added.

Sheikh Saud highlighted that RAK Digital Assets Oasis serves as a hub for entrepreneurs, investors, and developers, fostering a collaborative environment with progressive regulations and world-class infrastructure. "RAK DAO is more than just a regulatory framework. It is an ecosystem, essentially, providing a platform for businesses to thrive, offering progressive regulations, world-class infrastructure and a collaborative environment.”

He also shared that the emirate is “already witnessing the fruits of our vision. Leading companies in the blockchain and digital assets space are choosing Ras Al Khaimah as their home, drawn by our commitment to fostering a thriving ecosystem". He added that in just one year, RAK DAO has made significant strides, forming strategic partnerships that position it as a key player in the global digital assets landscape.

"We are laying the groundwork for future growth," he concluded, emphasising that the influx of investment will create high-value jobs and attract foreign direct investment, establishing Ras Al Khaimah and the UAE as global leaders in the digital economy.

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