Cryptocurrency exchange WEEX has launched its headquarters in Dubai as it prepares for significant expansion in the Middle East and North Africa (MENA) region. The current team of 600 employees plans to expand by 50 more over the next two years.
WEEX Strengthens Its Position in MENA with Dubai Headquarters
Following the opening of its Dubai headquarters, WEEX is making strides towards obtaining a license from the Dubai Virtual Assets Regulatory Authority. Vice President Andrew Weiner emphasized that establishing the UAE office is a strategic move to bolster WEEX's presence in the region. The company plans to expand its team to support local operations and enhance service delivery.
Global Crypto Exchanges in the UAE
WEEX has joined other global crypto exchanges, such as Binance, OKX, and Crypto.com, operating in the UAE. Progressive virtual assets regulations continue to draw market participants to the country.
Growth of the Crypto Market in the MENA Region
The MENA region is becoming a rapidly growing market for cryptocurrencies. According to Chainalysis, MENA now ranks as the seventh largest crypto market globally. Countries like Saudi Arabia and Qatar are leading in growth rates.
WEEX's expansion in Dubai underscores the strategic importance of the MENA region for global cryptocurrency companies, attracting more industry participants due to modern regulatory conditions and market growth.
