Cryptocurrency firm 21Shares announced Wednesday that it has listed Bitcoin ETP on Nasdaq Dubai.
Decidedly, cryptos are scoring points lately. The United Arab Emirates is among those who are jumping on board with the technology. Moreover, Dubai is a notorious tax haven and does not hide its ambition to become a regional hub for cryptos.
For proof, the big platforms like Binance are already present there. This time, it’s around the crypto company 21Shares which announced that its subsidiary 21Shares AG had listed a bitcoin exchange-traded product (ETP) on Nasdaq Dubai, making it the first physically backed bitcoin ETP in the Middle East.
The 21Shares Bitcoin ETP trades, under the ticker ABTC, in the same manner as the 21Shares Bitcoin ETP in Europe, 21.co said in a statement.
After listing in Dubai, 21Shares has 46 products listed in seven countries, 21.co adds.
Hany Rashwan, CEO and co-founder of 21Shares, said in the statement that the company “will continue to support the Middle East’s ambitions to become a global crypto hub”