Dubai’s free zone Dubai Multi Commodities Center (DMCC) has signed a memorandum of understanding (MoU) with the country’s regulator Securities and Commodities Authority (SCA) to allow businesses to trade and issue crypto assets.

“As we continue to make strides within the crypto and blockchain space, DMCC is making it easier for crypto and blockchain businesses to set up and operate in Dubai,” said Ahmed bin Sulayem, executive chairman and chief executive officer of DMCC.

In 2020, DMCC launched DigitalSugar, a blockchain-enabled trading platform for sugar, and the Agriota e-Marketplace, a blockchain agri-commodity trading platform that connects rural farmers in India with the UAE’s food industry.