The licensed crypto market transaction volumes in Dubai have hit AED 2.5 trillion (approximately $680 billion). The figure was announced in the recent Dubai government committee meeting between H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Chairman of the Higher Committee for the Development of the Economic and Financial Sector in the emirate of Dubai.
In the announcement, the Dubai government noted that while digital asset transactions across regulated entities in the whole of 2025 hit $680 billion, virtual assets under management exceeded $2.6 billion in 2025. The figures were driven by an increase in participation of large institutional players in the crypto industry. During the meeting, it was revealed that the digital assets industry contributes about 0.5% to Dubai’s GDP, which is equivalent to about $500 million.
Licensed crypto market in Dubai hit milestone figure
Under the VARA regime, the ecosystem is expected to scale responsibly and reach around 3% GDP, an equivalent of around $3.5 billion. HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, in a LinkedIn Post, stated, “Dubai currently stands as the world’s single largest licensed virtual assets market, with more than 40 licensed virtual asset service providers and trading volumes reaching AED 2.5 trillion since the beginning of the year.”
He also commended the role of Dubai’s VARA in promoting transparency and solidifying the emirate’s standing as a global hub for digital assets. The city also hosts 600 registered service providers engaged in advisory, technology, or proprietary trading activities that do not require full regulation. These achievements were highlighted as H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum chaired a meeting of the committee.
Financial Sector Strategy kicks off
During the meeting, the Dubai Financial Sector Strategy was also approved. The strategy is a comprehensive roadmap designed to solidify the country’s position as a leader in the crypto space. Its key goals are to double the financial sector’s contribution to the emirate’s GDP and grow the size of assets under management. Under the strategy, there are plans to launch 15 transformative programs over a three-year period with opportunities for investors.
It also aims to improve market activity by encouraging the listing of more family businesses and startups. In addition, it is expected to aid growth in the asset and wealth management sector by developing legislation and policies that attract new asset managers and family businesses. The strategy also focuses on enhancing the role of small and medium enterprises in the national economy by developing innovative financing models that expand access to capital, ensuring the sustainability of SMEs, and increasing their contribution to GDP.
In attendance at the meeting were Mohammad Al Gergawi, Vice Chairman of the Committee; Mohamed bin Hadi Al Hussaini, Omar Sultan Al Olama, Helal Saeed Al Marri, Essa Abdulfattah Kazim, Faisal Yousef bin Sulaitin, Fadel Abdulbaqi Al Ali, His Excellency Saeed AlEter, and Huda Sayed Naim Al Hashimi, Secretary General of the Committee. The Higher Committee for the Development of the Economic and Financial Sector aims to endorse high-level economic and financial policies and strategies that support the realization of the Dubai Economic Agenda D33.
