Beyond the Noise, the UAE Is Still Building

Regulation did not pause

The strongest signal came from VARA. Its new derivatives framework matters not only because it covers a more sophisticated layer of market activity, but also because of its timing. At a moment when many markets might have chosen to slow down, Dubai kept building.

That matters. Regulation is often one of the clearest indicators of confidence. When a regulator continues refining market structure during a tense period, it signals that the long-term direction remains intact. In this case, the UAE is not stepping back from digital assets. It is deepening the rules around them.

Kokila Alagh, founder of KARM Legal, sees this as part of a wider regulatory advantage in the UAE. “Regulators such as VARA, ADGM/FSRA, DFSA, and SCA have shown a notably open and collaborative approach, engaging directly with market participants and welcoming ideas that support responsible growth,” she said. “That dialogue between regulators and industry is one of the UAE’s strongest advantages. In times of uncertainty, it gives businesses more clarity and confidence to keep building, adapting, and investing for the long term.”

That point is important. In difficult periods, regulatory openness becomes more than a policy feature. It becomes part of the market’s resilience.

Hiring still signals conviction

If VARA provides the structural signal, KARM Legal provides the human one.

The firm recently appointed Hillay Janebdar as Partner to lead its Virtual Assets practice and brought in Roy Ye as Greater China Manager. The significance lies less in the announcements themselves than in what they suggest. KARM is investing in two areas where it clearly expects demand to deepen: regulated digital assets and cross-border business linked to the UAE’s role as a gateway market.

Hillay Janebdar & Roy Ye , Karm New team members

Senior hiring remains one of the clearest expressions of conviction. Firms do not strengthen specialist leadership unless they believe the work is there and the opportunity is real.

Alagh put it simply: “In times when the market pauses to question, we double down on our work, our clients, and the UAE as the ecosystem that continues to enable both.”

That line captures the wider message well. The hires are not just about internal growth. They reflect confidence in a market where digital asset activity is becoming more sophisticated and where the UAE continues to serve as a bridge between regional and international business flows.

Execution is moving beyond the UAE

Fuze reflects the execution side of the same story. The strongest signal from the company is not simply that it has signed partnerships, but that it is beginning to translate UAE-built digital asset infrastructure into regulated opportunities beyond the domestic market.

That became clearer when the Central Bank of Jordan admitted Fuze into JoRegBox, making it the first virtual asset infrastructure firm accepted into the sandbox. The move matters because it places Fuze inside a regulated testing environment tied directly to banking and financial innovation, rather than outside the system looking in.

Its more recent agreements with Arab Bank’s fintech accelerator, AB Xelerate and Miden add to that picture, but the broader point is simpler. Fuze is emerging as an example of how a UAE-based digital asset firm can move beyond local positioning and start engaging adjacent markets through formal, regulated channels.

For Mo Ali Yusuf, CEO of Fuze, that momentum reflects the strength of the UAE base. “On the ground, this is a very steady moment for UAE-based digital asset firms,” he said. “Strong communication, access to leadership, and a clear sense of direction continue to give confidence to operators across the ecosystem.”

He added: “That’s why you’re seeing companies like Fuze expand into markets across MENA and Africa, forming deeper partnerships, and continue building — it’s a reflection of the foundation that’s been built here, not a reaction to short-term challenges.”

A changing global backdrop

The wider contrast is worth noting. Globally, artificial intelligence is becoming a growing advantage for business while also emerging as a pressure point for employment, as companies rethink cost structures and streamline teams. Bloomberg reported on March 19 that Crypto com was cutting around 12% of its workforce, citing the need to adapt its business to rising AI capabilities. Crypto com is licensed in Dubai through VARA and has tied itself to the UAE story through local approvals and public initiatives, yet it has not projected the same level of market visibility in the UAE as players such as Binance, OKX, or Bybit, which have made the country a far more central part of their regional positioning.

War creates a different type of pressure altogether. It does not just affect employment or operating efficiency. It tests business confidence itself, shaping sentiment, planning, and the willingness of firms to commit. Against those two pressures, the UAE market appears to be offering a different signal: steadiness. Regulators are still refining the market, firms are still investing in talent, and operators are still expanding through structured partnerships. That is what makes the current moment stand out.