DUBAI: Dubai is taking a giant leap towards innovation with the launch of the Crypto Tower, a futuristic 17-storey development in Jumeirah Lakes Towers (JLT). This landmark project, spearheaded by DMCC in collaboration with REIT Development, is designed to support the booming blockchain, decentralised finance (DeFi), and Web3 industries, further enhancing Dubai’s global leadership in technology.

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The Crypto Tower will integrate cutting-edge blockchain and AI technologies, elevating DMCC’s already impressive ecosystem, including the DMCC Crypto Centre. The facility spans over 150,000 square feet, offering diverse spaces such as nine office floors for crypto start-ups, three floors for blockchain incubators and investment firms, and an AI innovation floor powered by Chatoshi.ai.

Key features include a 30,000-square-foot crypto club for networking, a 10,000-square-foot event space, and a 3,500-square-foot outdoor area. The Crypto Tower will use blockchain-based services like smart contracts and on-chain voting for tenants, setting a benchmark in transparency and efficiency.

Additional highlights include an NFT art gallery, a gold bullion vault with 5,000 square feet of secure storage, and even an exotic car dealership, blending luxury with innovation.

Ahmed Bin Sulayem, CEO of DMCC, described the Crypto Tower as a bold step towards integrating blockchain with real estate, calling it a “practical demonstration of Web3’s potential.” Brenda Stratton, REIT Development’s Communications Director, emphasised its role in bringing transparency and sustainability to construction.

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Scheduled for completion by Q1 2027, the Crypto Tower is poised to be a game-changer, positioning Dubai as a global hub for blockchain innovation.