The Dubai free zone Dubai Multi Commodities Centre (DMCC) has licensed an additional 1,230 businesses to operate from the hub after it finished its best first six months since 2013.
This builds on the 2,025 firms that signed up last year, benefitting from the relief packages and incentives DMCC had offered after the COVID outbreak.
“We have carried over the record-breaking performance of 2020 into 2021, with another set of very strong achievements across all our pillars,” said Ahmed Bin Sulayem, Executive Chairman and CEO.
“The numbers speak for themselves and following the recent launch of the DMCC Crypto Centre, which has generated significant interest from the global crypto community, the second-half of the year looks even more promising. We expect to reach 20,000 members by year end – a target I am confident we will achieve.” It currently hosts 19,000 firms.
In April, DMCC signed a sale and purchase agreement with REIT Development to establish the largest precious metals refinery and storage facility in the GCC and the first to be completely enabled by blockchain in the GCC.
The facility will refine and store precious metals - including gold, silver, platinum, palladium and rhodium - and which will be tokenised on goldexchange.com.