Over 25% of money raised from token sales in 2019 came from projects based in the UAE

The United Arab Emirates (UAE) projects account for more than a quarter of all funds raised in 2019 in token sales, according to blockchain intelligence platform CoinSchedule. Even though the country didn’t even rank amongst the top 10 in 2018, it managed to surpass last year’s leader—the U.S.—and has raised more than $210.5 million. Two large projects based in the UAE were the reason why the country raised the highest sum - an investment bank GCBIB (amounting to $142.6 million) and luxurious markets-oriented Bolton Coin ($67.8 million). Meanwhile, perhaps because of the regulatory environment, the U.S. has fallen to the sixth place, ranking behind Cayman Island, Singapore, and Hong Kong.