- Dubai becomes the world’s largest licensed virtual asset market with AED 2.5T in trades.
- VARA reports 0.5% GDP contribution from virtual assets, set to rise to 3% in coming years.
- Dubai launches new financial strategy to double sector growth and attract global investors.
Dubai has made a significant step in its financial path. It has turned out to be the biggest licensed market in terms of virtual assets globally with AED 2.5 trillion ($680 billion) in transactions in 2025. It was announced in a meeting by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance.
Since the beginning of 2025 up to the present, there has been solid development of regulated bodies of the Virtual Assets Regulatory Authority in Dubai ( VARA ). The asset transactions were up to 2.5 trillion AED consisting of virtual assets and the assets under management rose to AED 9.6 billion til AED 2.6 billion. This expansion can be attributed to the increasing activities by key institutional investors in the industry.
Virtual Asset Sector Now Adds 0.5% to Dubai’s GDP
The meeting unveiled that virtual assets are presently adding around 0.5% in GDP of Dubai. This translates to AED 2.2 billion ($500 million). The VARA framework will increase this figure to 3% within the next several years and make the contribution of almost AED 13 billion ($3.5 billion).
Sheikh Maktoum expressed that Dubai is currently the largest licensed market in the world of virtual assets and it has more than 40 licensed vendors of virtual asset services. His speech also commended the role played by VARA in making Dubai more transparent and improving its international presence in the digital finance field.
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The ecosystem of Dubai is not limited to licensed entities. More than 600 registered firms are engaged in advisory, technology, or proprietary trading that do not necessitate full regulation. These companies are critical towards anchoring the larger digital asset landscape.
The other strategy that went through the committee was the Dubai Financial Sector Strategy. The strategy would aim to make Dubai to be among the best financial centres globally. Its goal is the doubling of the contribution of the financial sector in the GDP and increase of the quantity of the assets being managed.
Dubai Unveils 15-Program Financial Growth Plan
The strategy will have 15 major programs in three years. Through such programs, family businesses and startups would be encouraged to trade within the markets in the Dubai. The growth of asset and wealth management through policies that would attract new investors and fund managers is also in the strategy.
The promotion of small and medium enterprises (SMEs) is one of the objectives. The plan brings in new financing models that can enhance accessibility to capital. Such initiatives are to have SMEs sustainable and their overall contribution to the economy of Dubai raised.
The senior officials attended the meeting, they included 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, Saeed AlEter and Huda Sayed Naim Al Hashimi, Secretary General of the Committee.
The Higher Committee of the Development of Economic and Financial Sector is responsible for key economic policies. It is also in line with the Dubai Economic Agenda D33 which would ensure that Dubai is ranked amongst the top three cities worldwide. The committee plays the role of liaising with financial and economic organizations in integrating strategies and boosting competitiveness.
The aims of such endeavors are to enhance financial and technological dominance of Dubai. The regulatory environment within the emirate is clear and encourages the emergence of the new digital markets with an engaging control mechanism.
Dubai has been augmenting its internationally accepted reputation as a clear and controlled economic center. The next step to achieving the D33 vision is the step that it has taken in terms of virtual assets. The city continues to be innovatively-oriented, including its governmental credibility as well as sustainable economic growth.
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