Crypto Oasis Ecosystem Report 2023: Identifies 1,800+ Organizations in the Thriving UAE Web3 Space

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Crypto Oasis Ecosystem Report 2023: Identifies 1,800+ Organizations in the Thriving UAE Web3 Space

Over 8,650 individuals currently contribute to the thriving Crypto, Blockchain, Metaverse, and Web3 ecosystem of the UAE.

Highlights

  • Get an in-depth look at the world’s fastest-growing Blockchain ecosystem in the newly launched spring edition of the report at the Dubai FinTech Summit 2023
  • The report provides a comprehensive breakdown of the ecosystem’s main elements, including Governments & Associations, Startups & Projects, Investors & Collectors, Service Providers, Corporates, and Education & Research.
  • Of the total number of organizations, native ones make up 70.24% (1,270 organizations), while non-native ones account for 29.76% (538 organizations)
  • The report was produced in partnership with the DLT Science Foundation, a global nonprofit organization newly established to bring together top academic institutions, industry leaders, and developers to further society’s adoption of DLT and other exponential technologies, and Roland Berger, the leading management consultancy with strong expertise in digital assets, web3, and metaverse. Roland Berger exclusively published three thought leader points of view as part of the report.
  • Additionally, the report features an in-depth regional analysis of the UAE by the leading blockchain data platform Chainalysis.

Dubai, May, 2023: The UAE’s crypto ecosystem continues to grow at an unprecedented rate, with over 1,800 organizations currently identified as of Q1 2023, according to the second edition of the Crypto Oasis Ecosystem Report. The report, developed in collaboration with the DLT Science Foundation and Roland Berger, one of the leading management consultancies, offers a comprehensive summary of the UAE’s Blockchain evolution driven by Web3, cryptographic, and Blockchain technologies. Roland Berger also contributed three thought leadership articles that are exclusively published in the report.

The report, which was launched during the Dubai FinTech Summit organized by the Dubai International Financial Centre (DIFC), highlights that more than 8650 professionals currently work in organizations within the Crypto, Blockchain, Metaverse, and Web3 Ecosystem of the UAE, representing a 4.2 percent increase from Q4 2022. The report is divided into six parts, including Governments & Associations, Startups & Projects, Investors & Collectors, Service Providers, Corporates, and Education & Research.

Native organizations account for 70.5 percent (1,276 organizations) of the total number, while nonnative organizations account for 29.5 percent (532 organizations). During Q1 2023 alone, over 150 new organizations were identified, bringing in more than 350 new professionals to the thriving ecosystem. Approximately 72.8 percent (roughly 6,301) of these individuals work for native Blockchain organizations, while the remaining 27.2 percent (approximately 2,350) work for non-native companies.

“The second edition of the Crypto Oasis Ecosystem Report is a valuable resource for anyone interested in the Web3 space and will be an essential tool for policymakers, investors, and entrepreneurs looking to navigate the rapidly evolving landscape of blockchain technology,” said Saqr Ereiqat, co-founder of Crypto Oasis. “The report is a result of comprehensive research undertaken by the Crypto Oasis Research team, which involved an in-depth analysis of the UAE Web3 Ecosystem.”

Paolo Tasca, co-Founder and chairman at the DLT Science Foundation, said, “At the DLT Science Foundation, we are keen to reach out into and connect with the fastest growing Web3 Ecosystem in the world! This report provides a unique market analysis of the crypto and Web3 key players in the UAE. We are glad to have contributed to it.”

Pierre Samaties, Partner at Roland Berger Middle East and leading the Global Digital Assets, Web3 and Metaverse practice, said, “The growth of the UAE Digital Asset and Web3 ecosystem is very impressive. It is driven by forward-looking regulation, a welcoming talent immigration environment, and a remarkable appetite from government and institutions to adopt the many opportunities the technology brings.”

The report also contains insightful thought leadership articles from major players in the industry, including Circle, Citigroup, DIFC, DMCC, GenTwo, QORPO, Pulse World, Ripple, Securrency, State Street, Tokengate, Venom, Virtua and Yield App. Additionally, the report features a detailed regional analysis of the UAE by the blockchain data platform Chainalysis.

Suzana Obradovic, Regional Director Middle East and Africa at Chainalysis, said, “We are excited to bring our blockchain data insights to the Crypto Oasis Ecosystem Report. The launch of the report, already in its second edition, marks an important milestone in the growth of the Web3 ecosystem in the UAE. By building out comprehensive regulation and embracing future technologies, the UAE has made itself very attractive to Web3 enthusiasts looking to establish themselves in the region.”

You can download the report at: https://www.cryptooasis.ae/reports

About Crypto Oasis

The Crypto Oasis is a MENA-focused Blockchain Ecosystem headquartered in Dubai, UAE. The core elements needed for its growth are Talent, Capital, and Infrastructure. The ecosystem’s stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers and Government Entities & Associations. Crypto Oasis’ vision is to be one of the leading Blockchain Ecosystems in the world. Today it is the fastest growing Blockchain Ecosystem in the world, with more than 1,800+ organizations identified in the UAE alone with more than 10,000+ individuals working in the space. www.cryptooasis.ae

About DLT Science Foundation

The DLT Science Foundation (DSF) is committed to addressing grand challenges by adopting and promoting distributed ledger technologies (DLT) and other exponential digital technologies. The DSF achieves this aim by empowering education, innovation, and research through its academic network and partnerships with industry leaders. The DSF expands knowledge transfer from academia to industry, promoting a stable adoption of DLT in business, government and society. Our foundation operates as a global, decentralized entity, much like the technology we promote. A network of world-leading experts from around the world pools their knowledge and expertise to deliver the DSF’s vision. The DSF team works tirelessly to further its mission, supporting educational initiatives, empowering researchers, and acting as a hub for startups, universities, and knowledge-transfer institutions. The foundation stimulates innovation through activities such as hackathons, commercializing research, and much more. www.dltscience.org

About Roland Berger

Roland Berger is the only management consultancy of European heritage with a strong international footprint. As an independent firm solely owned by our Partners, we operate 51 offices in all major markets. Our 3,000 employees offer a unique combination of an analytical approach and an empathic attitude. Driven by our values of entrepreneurship, excellence and empathy, we at Roland Berger are convinced that the world needs a new sustainable paradigm that takes the entire value cycle into account. Working in cross-competence teams across all relevant industries and business functions, we provide the best expertise to meet the profound challenges of today and tomorrow. www.rolandberger.com

Disclaimer

Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Karolina Gaszcz

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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