According to data from CoinSchedule, a cryptocurrency research company, the total amount of initial coin-issuing (ICO) financing in the UAE this year reached US$210.5 million, making the UAE more than the United States and becoming the global digital currency ICO capital. The United States dropped from the first place last year to the seventh place in recent months. The ICO financing amount as of early April this year was $29.1 million. In terms of the number of ICOs this year, Singapore ranks first in the world, followed by the UK and the Cayman Islands. According to CoinSchedule, the sharp rise in the UAE rankings is related to two large-scale ICOs. One of them is GCBIB's $142 million ICO, and the other is Bolton Coin's ICO, which raised $67 million.