Abu Dhabi Welcomes BlackRock with New Commercial License
BlackRock, the world’s largest asset manager, has obtained a commercial license to operate in Abu Dhabi, further solidifying its presence in the Middle East. This development accentuates the company’s growing interest in the region, which is becoming an increasingly important global financial hub. The license, granted on November 18, allows BlackRock to deepen its engagement […]
The Global Blockchain Congress Returns Back Home to Dubai for its 14th Edition
The Global Blockchain Congress (GBC) is making its grand return to Dubai on February 5-6, 2025, hosted by Agora Group. As a leading platform for connecting blockchain innovators with top investors, the GBC has built a stellar reputation through 13 previous editions in Dubai and international ventures in Vietnam, the UK, and Singapore. The event […]
Dubai’s VARA Mandates VASPs to Register for EOCN Sanction Alerts
Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a crucial directive for all Virtual Asset Service Providers (VASPs) operating within the emirate. As of September 18, 2024, VASPs must register with the Executive Office for Control & Non-Proliferation (EOCN) system for sanction alerts. This measure aims to ensure robust compliance with targeted financial sanctions (TFS) […]
ADGM’s Virtual Asset Regulation Amendments Await Market Feedback
The Abu Dhabi Global Market (ADGM) has issued a new consultation paper as part of a broader regulatory update. This proposal aims to enhance the Financial Services Regulatory Authority (FSRA) guidelines for virtual asset activities, and ADGM is actively seeking feedback from market participants. Background: The Wider Context of Regulatory Amendments The current consultation, labeled […]
MetaEssence Partners with RTA to Conduct the Region’s First Rail Readiness Drill Using Metaverse and Digital Twin Technology
MetaEssence has teamed up with Dubai’s Roads and Transport Authority (RTA) as the official technology provider for the region’s first rail readiness drill. This pioneering exercise, utilizing metaverse and digital twin technologies, aims to enhance the crisis preparedness of the Dubai Metro, setting a new standard for public safety, operational resilience, and smart city innovation. […]
Ripple Partner Tranglo Expands Cross-Border Payment Services to Oman, Qatar, and Bahrain
Tranglo, a global leader in cross-border payments, has expanded its services to three new Gulf Cooperation Council (GCC) markets: Oman, Qatar, and Bahrain. This move is expected to bring secure and affordable remittance options to more than 30 million migrant workers in these countries, further supporting the growing demand for streamlined financial services across the […]
Saudi Arabia Plans $100 Billion AI Initiative: Project Transcendence
Saudi Arabia is launching a new artificial intelligence initiative, backed by up to $100 billion, as part of its ambition to establish itself as a global technology hub, competing with the United Arab Emirates, as reported by Bloomberg. According to sources familiar with the plans, this state-backed project, dubbed “Project Transcendence,” will focus on developing […]
Loyyal’s Xpand Point Partners with Easyrewardz to Bring Points Exchange to Loyalty Programs across Regions
Easyrewardz, a leading provider of cloud-based CRM and loyalty platform, has announced a strategic partnership with Loyyal, a UAE-based pioneer in blockchain-powered loyalty solutions. This collaboration is set to redefine the loyalty landscape by introducing enhanced point conversion capabilities and offering unique, experiential redemption options, giving customers more flexible and engaging ways to use their […]
UAE Stablecoin Market Gains Momentum with 55% Growth Under New Regulations
As 2024 unfolds, stablecoins are taking center stage in the UAE’s cryptocurrency landscape. In the first half of the year, the total value of stablecoins received by services, particularly centralized (CEX) and decentralized exchanges (DEX), surpassed $9.8 billion—a remarkable 55% increase from the $6.3 billion recorded in the same period of 2023. This development has […]
Bahrain’s ATME Pioneers New Era in Middle Eastern Capital Markets with Real-World Asset Tokenization
ATME, a digital assets exchange licensed by the Central Bank of Bahrain (CBB), is setting new standards in the Middle East, with a mission to modernize capital markets. In fact, ATME offers a secure trading platform and complete real-world asset (RWA) tokenization services, empowering both businesses and investors. Operating as a digital marketplace, ATME enables […]