It seems like the future of the crypto market is pointing to the Middle East. Recent advancements in the industry has made many Crypto insiders and experts to speculate that the newest crypto market maker is soon to emerge in the Middle East. The open economies of today have made it so that these leaving crypto market makers can be replaced by newcomers.

Dragonfly and Robot Ventures director's Tarun Chitra and Haseeb Qureshi hosted the Unchained podcast and discussed the potential of a new crypto market maker located in the Middle East. Chitra highlighted the benefits of an open-market so that different parties from abroad have the opportunity to fill in the space left by the newcomers. He believes that even the biggest market makers that are currently leaving the US will be replaced by a new exchange and market maker in the Middle Eastern region.

Qureshi added that MENA, the Middle East and Northern Africa, and Singapore have a lot of capital markets that could be interested in the developing market. He went on to mention the UAE's plans to court the crypto industry, despite the conflicts with FTX, a crypto trading exchange.

In conclusion, the news of Jane Street and Jump Trading retreating from the US crypto market led to much waves in the global crypto community. Most of the crypto experts now suggest that the opportunity left by these two firms will soon be taken by a crypto market maker based in the Middle East. MENA, the Middle Eastern Region and Singapore also offer a great opportunity for crypto developers and investors, as both regions have excellent capital and capital markets. Furthermore, the UAE's view on the space is also very positive, proving this is a good region for crypto businesses.



Other News from Today