Awaiting the Outcome of the FATF Meeting: UAE Nears Exit from Grey List
It is now expected that the Financial Action Task Force (FATF) will announce, at the end of its annual meeting, which begins today in Paris and continues until the 24th of this month, the removal of the United Arab Emirates from the enhanced follow-up stage, commonly known as the grey list, in the areas of […]
The Evolution of UAE Trade Connect Toward Global Transformation: From UTC to Haifin
In a rapidly evolving digital landscape, the UAE Trade Connect (UTC) has embarked on a journey to redefine the future of trade in the region and beyond. Launched in mid-July 2019 as a joint initiative between the First Abu Dhabi Bank (FAB) and Etisalat Digital, UTC set out to revolutionize digital trade through the integration […]
Mubadala Joins RW3 Ventures in Fundraising Efforts for Blockchain and Web3 Ventures
RW3 Ventures, a venture capital firm specializing in early-stage investments within the blockchain sector, has announced the successful closure of RW3 Ventures Fund I LP (“Fund I” or the “Fund”), securing $60 million in capital commitments. The Fund received substantial backing from The Raptor Group, along with support from Mubadala Capital, the asset management arm […]
Finschia & Klaytn Merger Approved: New Asian Blockchain Giant to Make UAE Home
The groundbreaking merger between Finschia and Klaytn has been officially approved, marking a significant milestone in the world of blockchain technology. With a 100% voting turnout and an impressive 95% approval rate, the merger is set to create Asia’s most extensive and influential blockchain ecosystem. As the Finschia Foundation announced, the merger will establish Asia’s […]
AI Investment Dominance: Middle East Takes Global Lead in 2024
A recent survey conducted by the Boston Consulting Group (BCG) indicates that at least 93% of C-Suite executives in the Middle East are planning to increase investment in artificial intelligence and generative AI (GenAI) within the upcoming year.Following closely behind, Europe and Asia show similarly high levels of commitment, with 86% and 85% of executives, […]
The UAE to Emerge as Global Fintech Hub, Insights from KARM Legal Show
The United Arab Emirates (UAE) is rapidly emerging as a global hub for Fintech, buoyed by an innovative regulatory framework and a dynamic market. KARM Legal Consultants, through the insightful contributions of Associate Partner Akshata Namjoshi and Senior Associate Ratul Roshan, has authored the UAE chapter in the Fintech Country Comparative Guide by Legal 500. […]
Animoca Brands and Param Labs Join Forces to Innovate Gaming Industry in MENA
Param Labs, a force in game and technology development based in Abu Dhabi, has forged a strategic partnership with Animoca Brands, a frontrunner in advancing digital property rights within gaming and the open metaverse. The collaboration aims to harness Animoca Brands’ expertise to fortify Param Labs’ go-to-market strategy, particularly in the area of launching innovative […]
AI Takes Center Stage: The Absence of Crypto at the World Government Summit 2024
The World Government Summit 2024 (WGS) has once again demonstrated its role as a beacon of global collaboration and forward-thinking initiatives. Discussions at this remarkable event transcended borders and disciplines, all aimed at shaping a better future for humanity. With decision-makers and market leaders from across the globe converging, the WGS served as an invaluable […]
Rising Transfer Charges in UAE to Strengthen the Case for Cryptocurrency
The Foreign Exchange and Remittance Group (FERG) has made a major announcement regarding the adjustment of fees for exchange houses operating under the jurisdiction of UAE authorities. This approval allows for an optional fee adjustment, with a minimum increase of 15%, typically amounting to 2.50 dirhams. Notably, this decision marks the first in five years, […]
Ask QX, World’s First Hybrid Generative AI Platform, Launches in over 100 Languages
QX Lab AI, a trailblazing Artificial General Intelligence (AGI) company, announces the official launch of Ask QX, the world’s first hybrid generative AI platform. This platform is designed to broaden access to AI tools, particularly for non-native English speakers. In contrast to existing Large Language Model (LLM) AI platforms limited to English, Ask QX utilizes […]