Binance in Dubai

Do you think Dubai will become a hub for crypto innovation? Will #Binance be increasing its presence there?

CZ: Oh, absolutely, yes. I think Dubai is already a crypto hub. When I first got to Dubai over a year ago, only a handful of #crypto companies existed. Today there are probably a couple of thousand. On top of that, thousands of businesses are in the application process for registration, licensing, etc.

Dubai’s a great place. There’s a crypto event almost every night – dinners, seminars, etc. I’m invited to multiple events every night, though I usually don’t go. Still, a lot is happening here. Dubai is a very international city overall, with many things to do.

About a year and a half ago, I came by myself. There were only a few Binance employees based in Dubai. When I met them in person for the first time, they told me, “CZ, you’re the third person I’ve met offline at Binance after working for two and a half years for the company.”

Now, Binance has more than 700 employees in Dubai alone. We’re growing at a rapid pace. The local economy is also booming due to its business-friendly practices. Dubai’s GDP grew considerably last year. That’s quite significant for post-pandemic times. Dubai is a fantastic place. I think it’s already a crypto innovation hub that will continue to grow.