According to the recent report from Henley&Partners the UAE leads in this year’s crypto adoption Index, as it is listed among top 12 countries while leading when it comes to public adoption, and innovation and technology.
The Henley Crypto Adoption Index 2024 is a proprietary bench-marking tool that assesses crypto-friendly countries that host investment migration programs, based on their adoption and integration of cryptocurrencies and blockchain. Including 670+ data points, the index provides crypto investors with a comprehensive overview of the extent to which these countries are embracing this emerging technology.
For example, when it came to public adoption of crypto, the UAE ranked second following only USA. It is the only Arab country in the top 12 for this year. As per the Index findings, the UAE stands out as a leading jurisdiction for crypto investors. Public interest is high, with a substantial portion of the population owning cryptocurrencies. This enthusiasm is matched by strong government support and a thriving start-up scene. This low-tax jurisdiction offers an attractive environment for crypto businesses, further bolstered by a highly digitalized and wealthy population.
In terms of infrastructure adoption however the UAE came in 8th place preceded by Singapore, USA, Hong Kong, Malta, UK, Australia and Canada.
But the UAE makes it up with its ranking in terms of Innovation and technology, where it stands second only superseded by Singapore.
Despite the proactive stance that the UAE has taken in terms of regulating virtual assets, Henley &Partners still ranked the UAE as 11th on the list.
If one puts together three factors, public adoption, innovation and regulation the UAE holds 3rd place globally only proceeded by USA and Singapore.
The crypto Wealth report by Henley&Partners also found a new class of high-net-worth individuals has emerged. Crypto millionaires surged by 95% in just one year, with 172,300 individuals now holding over USD 1 million in digital assets. The echelons of crypto wealth have expanded dramatically, with centi-millionaires growing by 79% to 325, and even the rarefied air of crypto billionaires seeing a 27% increase to 28 individuals.
