A Quarter of Every Dollar Alloted for ICO Token Sales was Generated for UAE-Based Projects in 2019

It looks like the United Arab Emirates are becoming a crypto force. According to a new report made by CoinSchedule, 25.4% of all Initial Coin Offerings (ICOs) and Security Token Offerings (STOs) sold this year came from the United Arab Emirates.

While the country was not even able to get into the Top 10 in 2018, the situation seems to be changing quite fast at the moment, since the country surpassed the current leader, the United States.

This year, part of the reason why so much money is going to the UAE is because of two major projects which hail from there. One of them is the GCBIB Bank, which had an investment of $142.6 million USD. The other one is Bolton Coin, with an investment of $67.8 million USD.

The United States has fallen a lot this year, mostly because the local regulation is not very friendly to ICOs and similar projects, so the country has lost some of its prominences in the field.

At the moment, the United Arab Emirates is first on the list with 25.4%, followed by the Cayman Islands (12.5%), Singapore (10.8%), Hong Kong (9.2%), the United Kingdom (8.6%), the United States (4.5%), Estonia (4%), the Republic of Korea (3.8%), Canada (2.7%), Zimbabwe (2%) and others with less than 2% account to the other 16.6% of the market.

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Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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