DMCC strikes deal to build blockchain-based precious metals refinery in Dubai
The precious metals refined on the site will be tokenized and traded on the DMCC Gold Exchange platform. Dubai Multi Commodities Centre — a free trade zone established by the Dubai Government — has signed a sale and purchase agreement with REIT Development to construct a 100,000 square foot precious metals refinery.According to a DMCC release on Wednesday, the precious metal refinery and storage facility will be the largest in the Gulf Cooperation Council and will reportedly be powered by blockchain technology.Located in the high brow Jumeirah Lake Towers area, the facility will refine and....
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Crypto and blockchain firms constituted 16% of the 655 new company registrations that were recorded in Q1 of 2022, the Dubai Multi Commodities Centre (DMCC) has said. The surge in crypto-related registrations also coincided with a quarterly period in which the DMCC is reported to have recorded its “highest Q1 performance” since inception.
Rise in Registrations Attributed to the Launch of DMCC Crypto Centre
One of the UAE’s largest free zones, the Dubai Multi Commodities Centre (DMCC), has said 16% of the 655 new company registrations recorded in Q1 of 2022....
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