Abu Dhabi launched the Fintech, Insurance, Digital and Alternative Assets cluster and is claiming that the initiative will see an additional AED56bn added to Abu Dhabi's GDP by 2045, Finextra reports.

It is also forecasting that the cluster will generate 8,000 skilled new jobs and attract at least AED17bn.

According to Abu Dhabi officials, the cluster is also designed to consolidate the emirate's fintech landscape and is described as a "strategic step towards building an integrated global financial ecosystem that harnesses capital, innovation, advanced technologies and AI solutions".

“By bringing investors, regulators, global institutions and technology innovators into an integrated cluster, Abu Dhabi is the preferred destination for those building digital assets, AI-powered insurance and breakthrough fintech platforms,” said Badr Al-Olama, Director-General of Abu Dhabi Investment Office.

In July this year, the UAE overtook the UK as the second biggest fintech market globally with $2.2bn in investment in the first half of 2025 - thanks mainly to the $2bn raised by crypto exchange Binance in March. Binance also this week became the first crypto exchange to secure a global licence through the Abu Dhabi Global Market.

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