The Dubai Financial Services Authority (DFSA) has officially recognized ZetaChain (ZETA), adding it to its list of approved crypto tokens. This recognition follows previous approvals for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Toncoin (TON), and XRP, signaling a growing acceptance of cryptocurrencies within Dubai’s financial ecosystem. This move is expected to facilitate greater adoption of these digital assets among financial institutions operating within the Dubai International Financial Centre (DIFC).
The DFSA announced the recognition in an official notice, stating that ZetaChain (ZETA) has been recognized in accordance with GEN Rule 3A.3.4 of the DFSA Rulebook. The recognition is effective immediately and will remain in place until further notice. The DFSA maintains an updated list of recognized crypto tokens on its website.
This announcement comes on the heels of ZetaChain’s successful $27 million funding round, announced on Wednesday. The round saw participation from prominent investors, including Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, and GSR, among others. ZetaChain plans to use the funds to further develop its Ethereum Virtual Machine (EVM)-compatible layer-1 blockchain. The EVM is the core technology that allows for the execution of smart contracts on the Ethereum network, and ZetaChain’s compatibility with it opens up a wide range of possibilities for developers.
A ZetaChain contributor emphasized the project’s commitment to providing a seamless development experience: “Since the beginning, along with our 150 contributors from all over the world, we have focused on providing the best possible experience for developers to build genre-defining services that go beyond Web3 and we will continue doing so.”
