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...
The Virtual Assets Regulatory Authority (VARA) in Dubai gave Mantra Finance a permission to be a Virtual Asset Service Provider (VASP). This important development allows Mantra Finance to expand its operations in the UAE and the wider MENA region, positioning itself as a key player in the digital asset market. Now that Mantra Finance has...
The Virtual Assets Regulatory Authority (VARA) of Dubai has issued a warning to consumers and investors about the potential risks linked to advertisements promoting subscriptions to memecoins. Memecoins are categorized as highly speculative and volatile assets, often susceptible to market manipulation. According to VARA, many memecoins lack intrinsic value and their pricing is primarily influenced...
The UAE’s Ministry of Energy and Infrastructure (MoEI) has partnered with Shiba Inu to push forward digital transformation efforts using Web3 technology. This collaboration aims to improve public services, develop greener infrastructure, and introduce citizen-friendly governance models. Shiba Inu’s advanced Web3 tools, including its Operational System (ShibOS), will be integrated into MoEI operations to enhance...
Experts in the UAE foresee a significant rise in the use of cryptocurrency for everyday transactions, including buying coffee and paying for petrol. According to Khaleej Times, Mohammed Al Hakim, president of Crypto.com, stated that within the next two years, many business owners, restaurant operators, and high-net-worth individuals are likely to favor cryptocurrency as a...
DP World is collaborating with global financial institutions and technology providers to tackle the long-standing issues in cross-border payment systems. The company made this announcement during the World Economic Forum in Davos, highlighting the inefficiencies that have long plagued global commerce. Emerging markets, particularly in Asia and Africa, face challenges such as prolonged settlement times,...
The UAE has attracted more than $30 billion in cryptocurrency investments over the past year, according to data from forex.com. This significant influx highlights the nation’s emergence as a key player in the global crypto market, ranking among the top 10 countries for cryptocurrency adoption in 2025. The UAE’s strategic leadership in regulation and innovation...
The UAE is rapidly establishing itself as a global hub for digital assets and blockchain technology, according to economist Dr. Abdul Rahim Al-Farhan. According to Khaleej Times, he highlighted that the country’s flexible regulatory policies, advanced digital infrastructure, and significant investments from global companies position it as a prime destination for cryptocurrency investors. Dr. Al-Farhan...
The Federal Tax Authority (FTA) has clarified that cryptocurrency mining for personal accounts will not be subject to the UAE’s value-added tax (VAT). This announcement was made on Tuesday, addressing the growing interest in cryptocurrencies among residents. However, the FTA specified that if an individual mines cryptocurrency on behalf of someone else, this service will...
Mastercard has launched its new Crypto Credential service in the UAE and Kazakhstan, marking its first entry into the Eastern Europe, Middle East, and Africa (EEMEA) region. This innovative solution is designed to simplify and secure cryptocurrency transactions by replacing complex blockchain addresses with easy-to-use aliases. The system ensures transactions are processed only if the...