DubaiCoin, Dubai’s 1st cryptocurrency, jumps 1,000% in 24 hours

Dubai's very own cryptocurrency, DubaiCoin, surged 1,000 per cent in just 24 hours on May 27. The cryptocurrency is currently trading on select exchanges.

Dubai has launched its first cryptocurrency based on a public blockchain. In just 24 hours, the price of DubaiCoin (DBIX) has gained 1,000 per cent. The cryptocurrency is currently trading on select exchanges. Information on crypto.com showed that Dubaicoin was trading at roughly $0.17 but rose to $1.13 on May 27. The cryptocurrency was launched by the UAE-based company Arabianchain Technology. The company claims that DubaiCoin is the first public blockchain-based cryptocurrency in the Arabic word. Arabianchain Technology has also said that people will soon be able to use DubaiCoin for purchasing products and services, both offline and online.