MENA News
Discover the latest blockchain and crypto news from the MENA region, including updates from Dubai, Abu Dhabi, Bahrain, Qatar, and Oman, covering trends, regulations, and developments shaping the industry
Kingdom Holding, the investment firm of Saudi Arabian Prince Alwaleed Bin Talal, has stated that it will not invest in cryptocurrency in the near future, citing the lack of widespread adoption as a payment method for goods and services. CEO Talal Ibrahim al-Maiman shared this position with Reuters, emphasizing the company’s cautious stance. Prince Alwaleed, a senior member of the Saudi royal family known for his Warren Buffett-inspired value investing…
Read More »GCEX (GCEX Group), a leading regulated digital prime brokerage, has unveiled its Open API, offering institutional and professional clients seamless, real-time access to balances, trades, and positions. As a Virtual Asset Service Provider (VASP) regulated by Dubai’s Virtual Asset Regulatory Authority (VARA), GCEX’s new Open API allows clients to directly integrate with the GCEX Back Office, streamlining portfolio management and regulatory reporting. This development enhances operational efficiency by automating manual…
Read More »Sky Links Capital Group proudly announces a major milestone in its journey with the successful acquisition of the Securities and Commodities Authority (SCA) license in the United Arab Emirates. This achievement represents a significant step in the company’s dedication to delivering innovative financial services while adhering to the highest compliance standards and providing exceptional client experiences in the region. Sky Links Capital is a fast-growing brand in the multi-asset brokerage…
Read More »Phoenix Group PLC (ADX:PHX), a leading UAE-based tech conglomerate, has announced a significant strategic move into Africa with the acquisition of an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia. This milestone partnership with Abu Dhabi-based cybersecurity firm Data7 highlights Phoenix Group’s commitment to global diversification and sustainable growth, providing a reliable energy source to support its long-term objectives and advancing responsible digital asset infrastructure development. Boosting Mining Capacity and…
Read More »With the rising popularity of cryptocurrencies, the Federal Tax Authority (FTA) of the UAE has clarified the VAT treatment for cryptocurrency mining activities, specifically those using the proof-of-work mechanism. This Public Clarification outlines the VAT implications for mining conducted for personal use and as a service, as well as the recoverability of input tax. Earlier, in October 2024, The UAE has amended its VAT Executive Regulation, introducing new rules that…
Read More »Deus X Pay, a regulated provider of institutional stablecoin payment solutions, is excited to announce its strategic partnership with BCB Group, a prominent provider of payment and trading services for the digital asset sector. This collaboration enables instant fiat currency settlements, offering clients faster, more cost-effective, and secure financial transactions. This announcement follows Deus X Pay’s recent rebranding from HAYVN, marking its transformation into a company dedicated to serving institutional…
Read More »Matthew White, CEO of Dubai’s Virtual Assets Regulatory Authority (VARA), recently shared his insights on LinkedIn, highlighting the transformative potential of tokenization in reshaping asset ownership and investment opportunities. In his post, White reflected on the growing adoption of virtual assets, noting that over 500 million users globally are holding or investing in these assets. He emphasized that tokenization is no longer a concept confined to speculative discussions; instead, it…
Read More »DMCC and REIT Development have unveiled plans for the landmark ‘Crypto Tower,’ a 17-storey development in Jumeirah Lakes Towers (JLT). Designed to support DMCC’s growing blockchain, DeFi, and Web3 ecosystem, the project strengthens Dubai’s position as a global hub for innovation and advanced technologies. The tower will complement DMCC Crypto Centre’s existing headquarters in Uptown Tower, offering a cutting-edge space for collaboration, innovation, and business growth. The Crypto Tower will…
Read More »HashKey Group (“HashKey”), a leading end-to-end digital asset financial services provider in Asia, announced today that HashKey MENA FZE, a member of the HashKey Group, has received In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application. This milestone solidifies HashKey Group’s standing as a trusted leader in the virtual asset space, empowering the company to deliver secure, transparent, and…
Read More »Further Ventures, a venture capital firm that invests in fintech and digital asset companies, has reaffirmed its position as a leader in digital asset innovation by spearheading a $16 million Series A funding round for Paris-based crypto wallet technology firm Dfns. This move highlights Further Ventures’ commitment to fostering cutting-edge technologies in the digital asset and fintech sectors. Further Ventures led the funding round, which also attracted investment from public bank…
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