MENA News
Unlock is the only official source of Blockchain and Crypto news from MENA region. latest projects and implementations in Dubai, Abu Dhabi, Bahrain, Saudi Arabia and other regional countries in the Middle East and north Africa.
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As blockchain technology and digital assets continue to reshape the financial landscape, the risks associated with their adoption grow more complex. Institutions in the MENA region, especially those operating within decentralized ecosystems, face challenges in ensuring security, compliance, and operational resilience. Recognizing these needs, the Abu Dhabi Global Market (ADGM) has introduced a comprehensive Information Technology Risk Management Guidance. This framework provides a robust foundation for managing IT risks in…
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The United Arab Emirates (UAE) is solidifying its position as a leader in Middle Eastern banking innovation, commanding the largest share of the region’s $3.2 trillion in banking assets. A new report by Arthur D. Little highlights the UAE’s transformative approach to digital banking and its influence on reshaping the financial industry across the Gulf Cooperation Council (GCC). With rapid digital growth, the UAE’s banking sector has achieved a Compound…
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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 with Abu Dhabi’s financial ecosystem. The company also plans to seek regulatory approval to operate…
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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 has consistently delivered outstanding results, facilitating significant funding opportunities for blockchain startups. Over its history,…
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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) in accordance with UAE regulations, UN standards, and the Financial Action Task Force (FATF) guidelines.…
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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 Consultation Paper No. 10 of 2024, is part of a series of proposed amendments across…
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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. The drill, part of RTA’s Emergency and Crisis Management Programme, was conducted in a secure…
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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 GCC. This strategic expansion brings Tranglo’s innovative payment solutions to a broader audience of migrant…
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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 AI through investments in data centers, startups, and infrastructure. Additionally, the project will aim to…
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Easyrewardz, a leading provider of cloud-based CRM and loyalty platform, has announced a 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 loyalty points. The collaboration will bring Loyyal’s innovative loyalty points exchange platform, Xpand Point to India’s…
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