UAE Minister of State for Foreign Trade Thani Al-Zeyoudi predicts the “major role” of cryptocurrency in the country’s international trade. In an interview with Bloomberg on the sidelines of the World Economic Forum on January 20 in Davos, Switzerland, Al-Zeyoudi outlined the UAE’s partnerships and trade policies.
Commenting on the crypto sector, the minister said that “cryptos will play a major role in UAE commerce.” He called for global governance of cryptocurrencies.
Al-Zeyoudi said that as the UAE develops its cryptocurrency regulatory framework, the focus will be on transforming the Gulf nation into a global crypto hub with safeguards. adequate.
“We have started to attract companies to the country with the aim of building together the good governance and the good legal system, which are necessary,” he said.
Exposure to El Salvador cryptocurrency minimal, says official
Despite being the first country to accept bitcoin as legal tender, El Salvador’s exposure to cryptocurrencies, such as bitcoin, is negligible, according to Dante Mossi, president of the Central American Bank for Economic Integration ( CABEI), Investing.com reported.
Prior to payment of an obligation due at the end of January 2022, the multilateral lender gave El Salvador $450 million in December 2022. It is significant that the bank has helped the nation by providing the majority of the money needed to pay down the debt.
NFT sales top 101 million in 2022: report
According to a DappRadar search on block chain and the growth of decentralized applications (DApps) in 2022, NFT sales reached $101 million last year, an increase of 67.57% over the previous year.
In the NFT market, Ethereum dominates with 21% market share and more than $21.2 million in transactions, followed by Wax ($14.5 million), Polygon ($13.3 million) and Solana ( $12.9 million). The trading volume of Solana and ImmutableX increased by 440% and 315%, respectively, compared to the previous year. BNB recorded around 1 million transactions in 2021 and 2022.