Virtuzone, a leading Company Formation Specialists and corporate services provider in the UAE, is now expanding into the Web3 market with its new entity, VZX.
By leveraging Virtuzone’s network and reputation to deliver best-in-class, industry-leading service, VZX’s goal is to assist blockchain, metaverse and crypto-related businesses looking to establish themselves in the UAE with their company setup, licensing, custodial services, and relocation needs.
VZX is working in partnership with leading regional service providers, including Binance, Silk Legal and Hayvn. With the launch of VZX, Virtuzone seeks to help advance the use of cryptocurrencies and blockchain technologies in the country while playing a key role in the Web 3.0 movement in the region.
Robin Janaway, General Manager at VZX, said: “The crypto space is forever evolving, and the recent events inevitably mean that global regulations are fast approaching, making the decision of where to set up your business or where to base yourself and your team extremely critical. VZX is well placed in working closely with the Web3 positive UAE regulators to assist new and existing entrants in making a move here.”
Regarding the reasons behind launching a separate entity for Web3 business setup solutions, George Hojeige, CEO of Virtuzone, added: “The digital economy is expected to be a major driver of the UAE’s sustainable economic growth. Dubai is already home to over 1,000 companies in the metaverse and blockchain sectors. As the city continues to attract new players in the crypto and Web3 sector, we aim to be the preferred setup partner in this space.”
The UAE has made significant strides with its various frameworks, and numerous licences and solutions are available for crypto and Web3 services. The rapid growth of the crypto market and the expanding regulatory frameworks of each region has made it challenging for cryptopreneurs and blockchain-focused corporates to choose a setup that will safeguard their interests today and in the future. As a result, VZX strives to assist its customers in obtaining proper legal structures, strong legal foundations, and licences to ensure their business grows smoothly and is ahead of any global regulations.
VZX offers optimal setup solutions for different types of customers, from crypto-native individuals looking to move to the UAE to founders looking to launch a DAO, create an NFT marketplace, build a metaverse startup, or tokenise assets on the blockchain.