The billionaire founders of Gemini, Cameron and Tyler Winklevoss, are considering Abu Dhabi and Dubai as potential Middle East hubs for their crypto exchange.

They are set to apply for a virtual asset licence in the UAE and have been encouraged by their conversations with regulators. The UAE has emerged as a global centre for virtual assets, with Dubai adopting the Dubai Virtual Asset Regulation Law last year to create a legal framework to protect investors.

The Winklevoss twins are on a world tour to meet financial regulators and crypto stakeholders, with plans to make Gemini a global company.