The UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications delivered a sweeping keynote at Binance Blockchain Week Dubai 2025, emphasizing the nation’s fast-rising role as a global hub for digital innovation, financial modernization, and crypto regulation.Speaking to an audience of founders, builders, policymakers, and industry leaders at the Coca-Cola Arena, the Minister opened by marking the UAE’s 54th National Day, tying the country’s rapid economic transformation to the evolution of global digital finance.UAE’s Digital Vision: From Global Financial Center to Web3 LeaderThe minister reflected on arriving in Dubai more than a decade ago to help develop the UAE’s international financial markets. Today, he said, the same momentum is propelling the nation’s digital-economy strategy—particularly in blockchain, AI, and virtual assets.He highlighted the UAE’s unique ability to “innovate, reinvent, and move with agility,” positioning it as one of the first major economies to integrate digital assets into national strategy. The country’s forward-looking stance is a key reason Binance chose Dubai as the host of Blockchain Week.Crypto and Stablecoins Are Transforming Global Value TransferThe keynote emphasized how crypto has solved one of the financial system’s oldest inefficiencies: cross-border payments.For decades, transferring money internationally was slow, expensive, and restrictive. Today, stablecoins and blockchain networks enable:Instant global settlementsA fraction of legacy transfer costs24/7 movement across bordersNo dependency on banking hours“This is a transformation for billions of people,” he said, noting that the past 12 months have been “record-breaking” for the entire digital asset industry.Stablecoins Surpass Visa Volumes as Adoption Accelerates GloballyHighlighting one of the most striking metrics of the year, the minister noted:Stablecoin market cap has grown nearly 50%Stablecoin wallet holders surged 50% to 130 millionDaily stablecoin settlement volumes surpassed Visa in 2024Tether alone posted a $10B daily settlement peakHe added that regulatory clarity in the United States and other jurisdictions is accelerating adoption and paving the way for regulated stablecoin issuers, which he described as a turning point for global finance.Crypto Exchanges and DeFi Reach New HighsThe ecosystem’s growth is not limited to stablecoins:Centralized spot trading volume is projected to hit a four-year high.DEX volume reached $1.3 trillion in October.On-chain derivatives have moved from niche to mainstream.24/7 permissionless trading is becoming standard.Global regulators, once skeptical, are now actively developing frameworks to support Web3 innovation. The minister highlighted the United States’ dramatic shift “from anti-crypto to wanting to become the crypto capital of the world,” triggering competitive reactions among other major economies.Smaller Nations Are Innovating FasterHe cited the example of Bhutan, which became the first country to implement a nationwide crypto payments system powered by Binance Pay, leveraging:High mobile-payment penetrationClean-energy miningA national plan to build a native blockchain ecosystemThis, he said, demonstrates how even small countries can leapfrog traditional financial infrastructure by embracing digital assets.Binance Growth Highlights Broader Institutional AdoptionThe minister acknowledged Binance’s global role, referencing several metrics shared earlier by CEO Richard Teng:300 million users worldwideBinance Pay merchants grew from 12,000 to 21 million in 2025$272 billion in annual Binance Pay transactions7 billion in scams prevented, protecting 9 million usersThis, he said, is “responsible growth in action.”He also praised Binance’s AI initiatives and the launch of Binance Junior, a parental-supervised digital finance app for ages 6–17—an effort aligned with the UAE’s education-driven digital future.The UAE Will Lead the Next Era of Digital TransformationThe minister closed by welcoming global innovators to collaborate with the UAE as it continues building a world-leading digital economy.“Crypto is becoming global infrastructure,” he said. “And the UAE will continue to think ahead, innovate, and shape the next chapter of the digital future.”
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