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
RAKBANK has become one of the first banks in the UAE to successfully execute an international remittance using China’s digital Yuan (eCNY) in exchange for the UAE’s Digital Dirham, marking a major moment in the evolution of cross-border payments. This pioneering transaction showcases the potential of Central Bank Digital Currencies (CBDCs) to revolutionize global financial systems by enabling real-time transfers, enhancing transparency, and reducing transaction costs. This achievement is part…
Read More »Following the approval of the UAE Cabinet on September 2, 2024, the UAE has launched its 2024-2027 National Strategy for Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Proliferation Financing (CPF). This comprehensive strategy is designed to enhance the country’s ability to combat financial crimes and maintain alignment with international standards. Legislative and Regulatory Reforms to Combat Financial Crimes The newly launched strategy is built around 11 strategic…
Read More »Virtual Vision (V2), a leading cloud provider in Saudi Arabia, has unveiled its Blockchain-as-a-Service (BlaaS) offering, developed in collaboration with CloudSigma and Red Date Technology. This new service is designed to enhance V2’s dominance in the public cloud market and provide regional businesses with advanced blockchain solutions. With increasing interest in blockchain technology, many businesses face challenges due to the complexities and costs of setting up and managing blockchain infrastructure.…
Read More »Payments are at the core of the increasingly interconnected global financial system – and yet, there is still a lot to be improved when it comes to how we go about transferring value globally. Much of the existing infrastructure and processes are not up to speed with the digital age, leaving ample room for enhancing the speed, cost, and overall efficiency of payments. As funds traverse multiple networks and settlement…
Read More »Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has entered into a strategic referral partnership with Zand Bank, the UAE’s first digital bank. This collaboration aims to strengthen and expand financial services for fintechs and startups across the region. The partnership will leverage Network’s expertise in card processing to support Zand Bank’s goal of becoming a digital economic accelerator for fintechs. A key…
Read More »Qatar has finally introduced its Digital Assets Regulations 2024, marking a significant milestone in the nation’s strategic adoption of blockchain technology. These regulations, spearheaded by the Qatar Financial Centre (QFC) under the Ministry of Commerce and Industry, set the framework for the tokenization of real-world assets while explicitly excluding cryptocurrencies like Bitcoin. QCB Governor Sheikh Bandar bin Mohamed bin Saoud al-Thani emphasized the importance of this development, noting that the…
Read More »The United Arab Emirates (UAE) has emerged as a top contender in the global cryptocurrency landscape, securing the third spot in the Henley Crypto Adoption Index 2024, just behind Hong Kong and Singapore. With a score of 41.8, the UAE stands out for its tax-friendliness, strong government support, and thriving startup ecosystem, making it an attractive destination for crypto investors. The Henley report, published by investment migration consultancy Henley &…
Read More »Recently, claims have surfaced that Binance froze the assets of Palestinian users following a request from the Israel Defense Forces (IDF). These allegations are based on a document purportedly from the Israeli government, citing an administrative seizure order under the Law on Combating Terrorism. The document suggests that the seized funds were linked to organizations labeled as terrorist groups, with authorization from Israel’s Minister of Defense. Binance CEO Richard Teng…
Read More »Klumi Ventures, the premier blockchain-native Venture Capital Firm and Fund Manager based in Abu Dhabi, has partnered with Fuze, the Middle East’s leading regulated digital assets and blockchain infrastructure provider. The new collaboration aims to seamlessly integrate traditional finance with the rapidly evolving digital assets landscape. This partnership will harness Klumi Ventures’ investment acumen and Web3 expertise alongside Fuze’s robust digital assets infrastructure to accelerate the adoption of Web3 technologies…
Read More »The crypto job market is undergoing an unprecedented boom, driven by increasing investment, mainstream adoption, and a growing institutional interest in digital assets. As the industry evolves, the demand for skilled professionals, especially in product and marketing roles, is rising, highlighting both opportunities and significant challenges. The Surge in Demand for Crypto Jobs The rapid expansion of Web3 technologies has led to a significant uptick in job openings within the…
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