Dubai announced plans to build a 17-storey Crypto Tower to support the rapidly growing blockchain and Web3 sector.
The tower offers 150,000 square feet of rentable space, creating a hub for Web3 innovation and development. The UAE is competing strongly with the United States to become the leading blockchain hub.
Dubai Crypto Tower Will Support Blockchain Integration
According to report locally, the crypto tower will integrate blockchain into tenant interactions and operations. On-chain voting, shared resources, smart contracts, and other automation systems will simplify the process.
This method is expected to reduce administrative workload and set new standards in community management.
Nine floors will be devoted to office space for crypto startups and established companies. Three additional tiers will be used for blockchain incubators, venture capital firms and investment groups.
There will be a floor dedicated to AI initiatives.
“Dubai’s new 17-storey Crypto Tower, announced by DMCC and REIT Development, will cater to blockchain, DeFi and Web3 businesses. The tower, scheduled to open in 2027, will also feature a crypto club and event spaces to connect the blockchain network,” write Mario Nawfal.
The design includes a 10,000 square foot indoor event area along with a 3,500 square foot outdoor area for cryptocurrency and blockchain events.
The top three floors will feature a 30,000 square foot crypto club, designed for networking and entertainment activities.
Dubai Is Racing to Become the Blockchain Capital
Other highlights include an NFT art gallery, gold bar shop, and luxury car dealership. Reports also say there will be a 5,000 square foot secure vault to store valuable assets such as gold, cash and cold wallets.
Construction on the tower is expected to be completed in the first quarter of 2027, with operations commencing shortly thereafter. Dubai continues to solidify its reputation as a hub for cryptocurrency and blockchain innovation.
In December, the TON DLT Foundation registered in Abu Dhabi under the ADGM framework, gaining legal recognition for decentralized organizations. Chainlink Labs also has a presence in the region through the Abu Dhabi Global Market (ADGM).
In October 2024, Ripple received approval from the Dubai Financial Services Authority (DFSA) to expand operations from the Dubai International Financial Center (DIFC). The Dubai Court of First Instance has recognized the payment of salaries in cryptocurrency according to employment contracts.
Recently, HashKey received a Digital Asset Provider license from Dubai’s major regulator VARA.
