DeFi Technologies, a financial technology firm that connects traditional capital markets with decentralized finance (DeFi), has officially launched its operations in the UAE. This move marks the company’s expansion into the Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) regions, following the registration of its subsidiary, DEFI DMCC, with offices located in...
As the United Arab Emirates (UAE) enhances its reputation as a global hub for financial innovation, SC Ventures, the innovation and venture capital division of Standard Chartered Bank, has announced the opening of a new office in Abu Dhabi’s Hub71 at the Abu Dhabi Global Market. Gautam Jain, a seasoned fintech strategist, highlighted the firm’s...
Aqua 1, a Web3 fund registered in the UAE, has committed $100 million to the World Liberty Fi (WLFI) token. This significant investment will allow Aqua 1 to join the governance of World Liberty Fi just before the anticipated transition to transferable WLFI tokens begins. The investment marks a substantial addition to Aqua 1’s holdings,...
The Financial Services Authority (FSRA) of Abu Dhabi Global Market (ADGM) has announced the immediate implementation of amendments to its regulatory framework for digital assets. This decision follows extensive industry engagement and feedback on Consultation Paper No. 11 of 2024. The key focus of the amendments is on revising the process for accepting Virtual Assets...
UAE-based Emirates Coin Investment LLC (EmCoin) has achieved a significant milestone by becoming the first investment platform in the region to be regulated by the Securities and Commodities Authority (SCA). This development allows EmCoin to offer investment opportunities in both digital assets and traditional financial assets, including global equities, commodities, and Initial Coin Offerings (ICOs)...
Fresh digital asset regulations in the UAE are set to encourage further tokenisation and the introduction of more complex cryptocurrency-related products, according to analysts. Tokenisation involves creating and trading digital tokens that are backed by real-world assets like real estate, gold, or art on a blockchain, facilitating direct and verifiable peer-to-peer transactions. Dubai’s crypto regulator,...
BitGo, a prominent digital asset infrastructure provider, has introduced its Crypto-as-a-Service (CaaS) platform in Dubai. This new offering allows financial institutions, FinTech companies, and enterprises to easily integrate cryptocurrency functionality into their existing products. The platform streamlines the process for businesses to provide crypto trading, transfers, and staking services while ensuring high standards of security...
Bitcoin continues to dominate global markets, and a significant indication of this trend comes from Abu Dhabi. The sovereign wealth fund Mubadala has officially announced an investment of $408.5 million in the iShares Bitcoin Trust (IBIT) managed by BlackRock. This move strengthens Bitcoin’s position as a strategic financial asset for institutional investors, revolutionizing the traditional...
Crypto.com, a leading global regulated cryptocurrency exchange licensed by the UAE’s Dubai Virtual Asset Regulatory Authority (VARA), has partnered with Emarat Energy, which operates over 155 gas stations throughout the UAE, to introduce cryptocurrency payment options. This initiative aims to enhance the utility of digital assets in the region. According to a post on LinkedIn,...
Crypto.com, a leading global regulated cryptocurrency exchange licensed by the UAE’s Dubai Virtual Asset Regulatory Authority (VARA), has formed a partnership with Emarat Energy. Emarat operates over 155 gas stations throughout the UAE and will now offer customers the option to make payments with cryptocurrency. The expansion of this service is contingent on regulatory approvals...