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
BitOasis has officially announced its transition from Ajman Bank to Zand Bank for AED and other currency transactions, effective September 23rd, 2024. This move reflects a broader trend in the UAE’s crypto sector, where many Virtual Asset Service Providers (VASPs) are consolidating their banking operations with Zand Bank. However, the growing reliance on a single bank raises questions about the potential risks of such centralization. The Growing Popularity of Zand…
Read More »Crypto.com, a leading global crypto exchange, has secured a crypto payment service provider license in Bahrain from the Central Bank of Bahrain, following its earlier licensing by Dubai’s VARA in the UAE. This license is part of Crypto.com’s strategy to expand its footprint in the GCC region. The license, granted through its Bahrain subsidiary, “FORIS GFS BH B.S.C. CLOSED,” will enable the company to enhance its e-money and fiat payment…
Read More »Binance, the world’s largest virtual asset exchange by volume and users, has named Stephanie Emile as its new General Manager for Dubai, effective August 2024. Emile brings extensive experience in digital and electronic trading systems and will be instrumental in driving Binance’s growth and operational capabilities in the region. With a strong background in the financial sector, Emile has held key roles at BNP Paribas as Deputy Head of Electronic…
Read More »Cypher Capital, a multi-strategy crypto investment firm, announced its participation in a $15 million seed funding round for Hemi Labs, a blockchain network aiming to unify Bitcoin and Ethereum. The funds will support the development and launch of the Hemi Network, with a focus on advancing blockchain technology and enhancing interoperability through a unified supernetwork. This funding round follows Hemi’s recent incentivized testnet launch, with a mainnet launch slated for…
Read More »A recent survey conducted by Capital.com has revealed that the United Arab Emirates (UAE) is rapidly gaining recognition as a competitive tech hub. The survey polled 1,000 respondents across Singapore, Hong Kong, Vietnam and India, and found that 81% of Asian tech professionals view the UAE as a growing tech hub. A further 76% of respondents say the UAE provides a conducive environment for the tech industry. The UAE’s growing…
Read More »Animoca Brands Corp., a venture investor in crypto and developer of blockchain games, is considering Hong Kong as a “strong contender” for a potential listing, according to Chairman Yat Siu. A report in June said the location would be either Hong Kong or the Middle East. In a Bloomberg Television interview at a conference in Singapore, Siu mentioned that the company’s headquarters in the city contribute to this consideration. He noted that…
Read More »Mesh, the modern connectivity layer for crypto that makes transfers and account aggregation seamless, announce its strategic partnership with CoinMENA FZE, a leading digital assets trading platform in the Middle East. This collaboration aims to enhance digital asset transfer services by allowing CoinMENA’s trusted platform to be embedded into Mesh’s product suite, setting new standards for secure and user-friendly crypto services in the region. CoinMENA FZE, licensed by Dubai’s Virtual…
Read More »G42, the UAE-based artificial intelligence company, and Microsoft have announced plans to establish two AI centers in Abu Dhabi, deepening their collaboration following a $1.5 billion partnership deal earlier this year. The initiative aims to advance the responsible use of AI and address societal challenges across the Middle East and Global South. The first center will focus on identifying and developing best practices for the ethical use of AI in…
Read More »According to a recent report by BHM Capital, Phoenix Group PLC (PHX) is poised for significant growth with an aggressive expansion strategy. The report places a 12-month target price of AED 2.37 per share, suggesting a 48.3% potential upside. With a solid financial foundation, strategic acquisitions, and a focus on efficient, large-scale mining, Phoenix is well-positioned to become a key player in the global Bitcoin mining market, particularly in the…
Read More »Adaverse, a leading Web3 and blockchain fund in Saudi Arabia, has announced a $500,000 investment in UmrahCash, a fintech startup revolutionizing financial services for pilgrims traveling to the Kingdom. This strategic investment is aimed at addressing the financial challenges millions of pilgrims face, particularly in obtaining Saudi Riyals (SAR) for their religious journeys. Addressing a Critical Need for Pilgrims Saudi Arabia annually hosts 14 million migrant workers and 7 million…
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