Dubai will open Crypto Tower in 2027.

Dubai has announced plans to build a 17-story crypto tower, aiming to support the fast-growing blockchain and Web3 sectors.

The tower offers 150,000 square feet of leasable space, providing a hub for Web3's innovation and development. The UAE is competing heavily with the US to become a major blockchain hub.

Dubai Crypto Tower is supported by blockchain integration

According to local reports, the crypto tower integrates blockchain for tenant interactions and operations. On-chain voting, shared resources, smart contracts, and other automated systems simplify processes.

This approach is expected to reduce administrative costs and set new standards in community management.

Nine floors provide office space for crypto startups and established organizations. Three additional floors will house blockchain incubators, venture capital firms and investment groups.

There will also be a floor dedicated to AI initiatives.

“Dubai's new 17-story Crypto Tower, unveiled by DMCCC and REIT Development, will host blockchain, DeFi and Web3 businesses. The tower, which will open in 2027, will host a crypto club and event spaces for blockchain networking,” wrote Mario Naufal.

The design includes a 10,000 square foot indoor event area with 3,500 square feet of outdoor space for crypto and blockchain events.

Also, the top three floors feature a 30,000 square foot Crypto Club. The club will be designed for networking and recreational activities.

Dubai is racing to become the blockchain capital.

Other highlights include the NFT Art Gallery, a gold bullion shop and an exclusive car dealership. Reports also suggest that there will be a 5,000 sq ft secure vault to store valuables like gold, cash and cold wallets.

The construction of the tower is scheduled to be completed by Q1 2027 and work will commence upon completion. Dubai continues to cement its reputation as a hub for blockchain and crypto innovation.

In December, Ton DLT Foundation was registered in Abu Dhabi under the ADGM framework, gaining legal recognition of decentralized organizations. Chainlink Labs has established a presence in the region through Abu Dhabi Global Market (ADGM).

In October 2024, Ripple received regulatory approval from the Dubai Financial Services Authority (DFSA) to expand operations from the Dubai International Financial Center (DIFC). The Dubai Court of First Instance recognized crypto payments for wages under employment contracts.

Recently, HashKey received a virtual asset provider license from Dubai's chief regulator, VARA.