The Central Bank of the UAE (CBUAE) has officially launched a new Dh100 banknote, which is now in circulation as of March 24, 2025. This new currency is made from polymer and features innovative designs along with advanced security elements aimed at enhancing consumer confidence. The new Dh100 banknote will circulate alongside the existing Dh100...
Sheikh Mohamed bin Zayed bin Sultan Al Nahyan, the ruler of Abu Dhabi, recently met with David Sacks, the United States Special Advisor on Artificial Intelligence and Cryptocurrency. This meeting took place as the United Arab Emirates (UAE) announced a significant $1.4 trillion investment framework aimed at bolstering its economic ties with the United States....
Amana, a prominent neobroker based in the MENA region, has significantly expanded its cryptocurrency offerings, now featuring over 450 coins. This increase includes more than 300 new cryptocurrencies, making it the largest selection among local brokers. This development positions Amana as a leading platform for trading both digital and traditional assets in a single, user-friendly...
Ripple, a leader in enterprise blockchain and crypto solutions, has received approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services within the Dubai International Financial Centre (DIFC). This significant milestone makes Ripple the first blockchain-enabled payments provider licensed by the DFSA. The approval represents Ripple’s first license in the...
Abu Dhabi’s MGX has made a landmark investment of $2 billion in Binance, marking the first institutional investment in the world’s largest cryptocurrency exchange. This significant move into the cryptocurrency sector comes as MGX seeks to diversify its portfolio, particularly into blockchain and related technologies. According to Bloomberg, the investment represents MGX’s inaugural entry into...
Munaf Ali, the CEO of the UAE-based cryptocurrency firm Phoenix, has purchased over 20 million shares from the open market. This significant investment is aimed at reaffirming his strong belief in the company’s future prospects and long-term growth trajectory. Currently, Phoenix’s stock is trading at Dh0.99 on the Abu Dhabi Securities Exchange (ADX), which is...
Emirates NBD, the largest bank in Dubai, has announced a partnership with digital-assets firm Aquanow to offer cryptocurrency services via its digital banking arm. Customers using Emirates NBD’s digital bank, Liv, can now buy, sell, and trade cryptocurrencies through the Liv X app, according to the bank’s statement. This initiative comes as banks increasingly venture...
Real-world asset (RWA) tokenization is experiencing significant growth in the United Arab Emirates, as industry players seek to meet the rising demand for blockchain-based asset trading. This process involves converting financial and tangible assets into tokens on a blockchain, which enhances accessibility and liquidity for traditionally illiquid assets. As of February 3, the cumulative all-time...
Cryptocurrency exchange Bybit is on the verge of obtaining a full operational license in the United Arab Emirates after recently experiencing a significant hack that resulted in a loss of $1.4 billion. The exchange announced that it received in-principle approval from the Securities and Commodities Authority (SCA) to operate as a virtual asset platform within...
Dubai’s financial hub, the Dubai International Financial Centre (DIFC), has officially recognized USDC and EURC as approved crypto tokens under its regulatory framework. This makes them the first stablecoins to receive such approval within the DIFC, according to an announcement by Circle Internet Group, Inc., a leading global fintech firm. The Dubai Financial Services Authority...