The Dubai Multi Commodities Centre (DMCC) has revealed that its new member company registrations reached 3,049 in 2022.
The record year, according to DMCC, attained a 23 percent increase from 2021 when the free zone registered 2,485 new members.
DMCC attributed the growth to the increasing prominent international demand particularly from blockchain and web3 businesses for space at the DMCC Crypto Centre, to the extent that the Crypto Centre is now home to over 500 companies. The entity also maintains its strong focus on key commodities sectors.
Ahmed bin Sulayem, Executive Chairman and CEO, DMCC, said, “Backed by a strong regional macroeconomic landscape, DMCC has been efficiently accelerating its growth strategy throughout 2022, focusing on supporting its member companies in high-impact sectors such as web3 and blockchain technologies, commodities and global trade.”
He added, “I often view our member company registrations as a barometer for commercial and FDI activity in Dubai – these record-high numbers demonstrate burgeoning investor confidence in the emirate and the growing number of opportunities that Dubai presents.”
As blockchain and web3 technologies create increasingly positive economic and social impacts across all sectors and industries, the DMCC Crypto Centre has seen its community grow rapidly over 2022.
Now home to over 500 members, it represents the largest concentration of crypto and blockchain companies in the region.
In line with DMCC’s rise to becoming a crypto hub, its Crypto Centre partnered with global VC firm Brinc to provide its members with access to their $150 million accelerator fund. Brinc is a portfolio company of Animoca Brands, a global leader in web3 and blockchain investment.
This partnership supports the long-term and rapid growth of the companies that develop web3 and blockchain technologies and associated value-added services at the DMCC Crypto Centre.
Reflecting DMCC’s drive to add value at the intersection of technology and commodities, DMCC also partnered with SafeGold and Comtech Gold to tokenise gold bars based in UAE facilities.
