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
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, has disclosed a $436.9 million stake in BlackRock’s iShares Bitcoin ETF (IBIT) as of December 31, 2024. The disclosure was made through a 13F filing with the U.S. Securities and Exchange Commission. A Landmark Investment in Digital Assets This investment marks one of the most significant crypto-related moves by Abu Dhabi’s sovereign wealth fund, underscoring its growing interest in digital assets. While…
Read More »Saudi Arabia is making a significant leap in blockchain adoption with the launch of the Web3 Alliance of Saudi Arabia (WASA). This new initiative unites key industry leaders to advance Web3 technologies in alignment with the Kingdom’s Vision 2030, fostering economic diversification and technological progress. Founded by global Web3 pioneers The Sandbox, Animoca Brands, and Outlier Ventures, WASA aims to create a collaborative ecosystem that empowers businesses and drives sustainable…
Read More »The Virtual Assets Regulatory Authority (VARA) has issued a consumer alert regarding the risks involved in investing in memecoins, following the rising popularity of these highly speculative and volatile digital assets. Unregulated and High-Risk Nature of Memecoins Memecoins have become a prominent subject of discussion within the cryptocurrency market. These digital assets, often promoted through social media platforms, are characterized by extreme volatility and lack inherent value. Their pricing is…
Read More »Tokinvest, a Dubai-based pioneering regulated marketplace for tokenized Real-World Assets (RWAs), has published a new report exploring the exciting potential of real-world asset (RWA) tokenization. This report sheds light on the opportunities and challenges within this growing sector and provides a roadmap for making tokenized investments accessible to everyone. The report comes at a pivotal moment as blockchain technology continues to reshape finance, particularly in the Middle East. It explores how…
Read More »Reinforcing Saudi Arabia’s commitment to integrating advanced technologies into sports, the Saudi Company for Artificial Intelligence (SCAI) is launching the AI League – a new competition running from February 10 to the end of April 2025, with a total prize pool of one million riyals. This initiative strengthens AI’s role in revolutionizing sports and marks a significant leap forward for the industry. The AI League aims to foster innovation, nurture…
Read More »CoinMENA, a leading regulated crypto trading platform in the MENA region, is making waves in the world of cryptocurrency advertising with its debut campaign, “Your Future, Your Choice.” Partnering with creative agency Bigsea, CoinMENA is using sharp satire to critique the harsh economic realities of today’s world, and in doing so, is redefining how cryptocurrency is marketed. The campaign tackles two universal challenges: rising living costs and the struggle to…
Read More »U.S. tech giant Microsoft has announced the launch of a new fund dedicated to advancing responsible artificial intelligence (AI) development in Abu Dhabi, United Arab Emirates. The announcement came just a day before the AI Summit in Paris, where Microsoft emphasized that the initiative aims to strengthen responsible AI standards and implement best practices across the Middle East and globally. The project will be carried out in collaboration with UAE-based…
Read More »Retail banking, once the foundation of global financial institutions, is undergoing a dramatic transformation. Traditional banks are reducing their retail footprint, shifting towards wealth management and investment banking. This retreat is driven by increasing competition from local banks, which in turn are feeling the pressure from neobanks and fintech firms. Open banking regulations have accelerated this shift, enabling fintech startups to challenge traditional banks’ dominance by offering more agile, customer-centric…
Read More »Tungsten Custody Solutions Ltd, a regulated digital asset custodian operating under the Abu Dhabi Global Market (ADGM), has announced a strategic collaboration with MANTRA (OM) to enhance institutional digital asset custody. The collaboration strengthens Tungsten’s institutional-grade custody services, providing a compliant and secure solution for institutional clients seeking to safeguard OM tokens. Strengthening Institutional Access to MANTRA (OM) & MANTRA Chain By integrating with MANTRA’s ecosystem, Tungsten Custody is offering…
Read More »Tether, the issuer of the world’s largest stablecoin USDT, has announced a collaboration with Reelly Tech, a blockchain-based transaction infrastructure provider, to explore real estate solutions in the UAE. This partnership aims to enhance digital asset integration within the real estate sector, leveraging blockchain for more efficient and transparent transactions. Blockchain’s Role in UAE Real Estate The UAE has been at the forefront of blockchain adoption, with regulatory frameworks supporting…
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