Saudi Arabia and Pakistan Join Forces for Digital Advancement With Focus on Blockchain Technology
Saudi Arabia and Pakistan have taken a significant step toward strengthening their bilateral cooperation in communications and information technology. In Riyadh, a memorandum of understanding (MoU) was signed by Saudi Arabia’s Minister of Communications and Information Technology, Eng. Abdullah Alswaha, and Pakistan’s Federal Minister of Information Technology, Telecommunication, Science, and Technology, Dr. Umar Saif. Accelerating […]
UAE’s TradeFinex and SBI Partner for XDC Network Adoption in Japan
SBI Holdings and TradeFinex are teaming up in Japan to promote the adoption of the Ethereum Virtual Machine (EVM)-compatible enterprise blockchain XDC Network. TradeFinex, headquartered in the United Arab Emirates, operates a decentralized platform on the XDC Network, facilitating connections between trade finance originators and a range of banks and lending institutions. Geared towards enterprise […]
DIFC Announces Consultation on New Digital Assets Law, New Law of Security and Related Amendments
Dubai International Financial Centre (DIFC), a prominent global financial hub in the Middle East, Africa, and South Asia (MEASA), has introduced a new initiative to enact a unique Digital Assets Law, a new Security Law, and accompanying amendments to certain existing legislation within its jurisdiction. This effort is aimed at accommodating the evolving needs of […]
‘Climate Action Acceleration Through the New Web3 Economy’ Program in Dubai Presented at UN Headquarters in New York
Digital innovation, with a particular focus on Web3 technologies, possesses significant potential to expedite the realization of global climate and sustainable development objectives. Achieving a climate-resilient future requires the active involvement of all segments of society, particularly empowering the youth. These were the central messages conveyed during the conference titled ‘Co-Creating the Future: Advancing the […]
Web3 Gaming Takes Center Stage in the UAE
In recent years, the landscape of gaming has undergone a profound transformation, ushering in a new era marked by unprecedented innovation and decentralization. At the forefront of this revolution is the rise of Web3 gaming, a groundbreaking paradigm that has rapidly gained traction worldwide. Nowhere is this transformation more evident than in the United Arab […]
Ghaf Labs Announces Strategic Partnership with Sui Foundation to Foster Web3 Expansion in the UAE
Ghaf Labs, a boutique consultancy and advisory firm specializing in web3 ventures, is thrilled to announce its partnership with Sui Foundation, a Blockchain Foundation that supports the growth and proliferation of the Sui blockchain protocol (“Sui”) and associated ecosystem. Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up […]
Crypto Insights: UAE’s Institutional Dominance and MENA Trends Unveiled in Chainalysis Report
Chainalysis has unveiled its 4th annual Geography of Cryptocurrency Report, shedding light on the scale of cryptocurrency transactions in the Middle East and North Africa (MENA), particularly in the UAE. The report, covering the period between July 2022 and June 2023, highlights that a substantial majority, precisely 67%, of cryptocurrency transactions in the UAE were […]
VARA Issues Alert Against Unregulated VASP JPEX, Investor Caution Advised
The Virtual Assets Regulatory Authority (VARA) has issued a critical alert, drawing attention to regulatory actions being considered and initiated against the Virtual Asset Service Provider (VASP) JPEX and associated entities within its holding group. This development is of significant importance to investors and market participants, as it sheds light on unregulated operations and false […]
IMF Report Explores the Potential of Central Bank Digital Currency (CBDC) in Bahrain
In a significant move towards embracing financial innovation, Bahrain is on the cusp of introducing a Central Bank Digital Currency (CBDC). A recent analysis by the International Monetary Fund (IMF) sheds light on the potential economic benefits and opportunities that this pioneering initiative can bring to the Kingdom. Global Interest in CBDCs on the Rise […]
Bank ABC Leads the Way in Cross-Border Payment Innovation with J.P. Morgan’s Coin Systems
Bank ABC has achieved a significant milestone by becoming the first Middle East bank to introduce expedited cross-border payment services tailored for corporate clients and financial institutions, leveraging J.P. Morgan’s Coin Systems. This blockchain-based permissioned system, situated within J.P. Morgan’s Onyx, functions as both a payment infrastructure and deposit account ledger. The launch of this […]