Dubai AI & Web3 Festival Attracts 6,800 Visitors from over 100 Countries
Under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, Chairman of The Executive Council of Dubai, and Chairman of the Higher Committee for Future Technology and Digital Economy, the Dubai AI & Web3 Festival organised by the […]
XBTO Secures In Principle Approval from ADGM to Operate in the UAE
Digital assets management firm XBTO has secured in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to begin operations in the UAE. The firm, which provides digital asset services for institutional investors outside the US, will continue to run its existing offices in Bermuda, London, and Paris, while […]
DMCC Launches AI Centre to Drive AI Adoption in MENA Region
DMCC, the world’s leading free zone and Dubai Government Authority on commodities trade, has launched the DMCC AI Centre, a new innovation platform aimed at accelerating the adoption of artificial intelligence (AI) and developing practical AI applications across the MENA region. During the launch event, attended by over 60 prominent figures, including H.E. Khalfan Belhoul, […]
Standard Chartered Chooses UAE for Launch of Digital Asset Custody Service
Standard Chartered has announced the launch of its highly anticipated digital asset custody service in the UAE. Licensed by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC), this service marks a key milestone in the bank’s digital asset strategy. Initially, it will support Bitcoin and Ethereum, the two largest cryptocurrencies […]
Ripple Extends Strategic Partnership with NYU Abu Dhabi to Boost Blockchain Research
Leading provider of digital asset infrastructure, Ripple, has renewed its strategic partnership with NYU Abu Dhabi through its University Blockchain Research Initiative (UBRI). This extension reinforces Ripple’s commitment to advancing blockchain research and supports innovative student initiatives in the region, bringing the total funding for NYU Abu Dhabi’s research projects and student initiatives to over […]
SCA and VARA Introduce New Licensing Rules: A Positive Step for VASPs
In a remarkable move to enhance the UAE’s position as a global leader in virtual assets, the Securities and Commodities Authority (SCA) and Dubai’s Virtual Assets Regulatory Authority (VARA) have entered a pivotal agreement to strengthen the regulatory framework for virtual asset service providers (VASPs) in the UAE. This agreement will establish comprehensive rules and […]
RAKBANK Achieves Milestone with First CBDC Transfer via mBridge
RAKBANK has become one of the first banks in the UAE to successfully execute an international remittance using China’s digital Yuan (eCNY) in exchange for the UAE’s Digital Dirham, marking a major moment in the evolution of cross-border payments. This pioneering transaction showcases the potential of Central Bank Digital Currencies (CBDCs) to revolutionize global financial […]
UAE Unveils 2024-2027 National Strategy for AML and CFT
Following the approval of the UAE Cabinet on September 2, 2024, the UAE has launched its 2024-2027 National Strategy for Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Proliferation Financing (CPF). This comprehensive strategy is designed to enhance the country’s ability to combat financial crimes and maintain alignment with international standards. Legislative and […]
Virtual Vision (V2) Collaborates with CloudSigma and Red Date Technology to Launch Blockchain-as-a-Service in Saudi Arabia
Virtual Vision (V2), a leading cloud provider in Saudi Arabia, has unveiled its Blockchain-as-a-Service (BlaaS) offering, developed in collaboration with CloudSigma and Red Date Technology. This new service is designed to enhance V2’s dominance in the public cloud market and provide regional businesses with advanced blockchain solutions. With increasing interest in blockchain technology, many businesses […]
The Transformative Potential of Crypto Payments in Global Finance
Payments are at the core of the increasingly interconnected global financial system – and yet, there is still a lot to be improved when it comes to how we go about transferring value globally. Much of the existing infrastructure and processes are not up to speed with the digital age, leaving ample room for enhancing […]