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Swiss and Dubai crypto association joins hands to develop blockchain firm in middle east

The Crypto Valley Association (CVA), which has its headquarters in the “crypto valley” that the Swiss Canton of Zug has dubbed itself, will drive the relationship with its counterpart in Dubai to link a growing number of blockchain communities in Switzerland and the Middle East.

Ralf Glabischnig, who was instrumental in the development of Zug as a hub for blockchain and cryptocurrency businesses, was the driving force behind the founding of both groups. As per the online media report, the region was the birthplace of organisations such as the Ethereum Foundation. The newly formed cooperation between the organisations located in the UAE and Switzerland would hopefully facilitate the establishment of links and the exchange of information between companies established in both countries.

Faisal Zaidi, co-founder of Crypto Oasis, will lead the charge for the CVA-led effort in Dubai, which now counts more than 1,100 enterprises located in the United Arab Emirates as participants in its expanding ecosystem. Zaidi brought attention to Dubai’s initiatives to embrace and promote blockchain-based enterprises, goods, and services in a manner similar to Zug’s work in this area.

CVA has previously carried out a similar move, namely the establishment of a Latin American chapter in July 2022. This chapter taps into the flourishing cryptocurrency and blockchain industry in South America.

According to the release, the CVA has given an invitation to the Dubai International Financial Centre to visit Zug in order to discover blockchain firms that have the potential to relocate to the United Arab Emirates in order to boost the country’s expanding ecosystem.

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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