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
RAK Digital Assets Oasis (RAK DAO), a free zone for digital assets companies located in the emirate of Ras Al Khaimah, has launched its inaugural accelerator program – Builder’s Oasis. With a funding pool of USD$2 million, this program is designed to support Web3 startups in the gaming, AI, and blockchain infrastructure sectors.The program aims to attract over 150 global applicants, with high-potential startups to be shortlisted. Select participants are…
Read More »The Central Bank of the UAE (CBUAE) and the Economic Security Centre of Dubai today signed a Memorandum of Understanding (MoU) to strengthen cooperation and information sharing in combating financial crime. This aims to achieve the strategic objectives of both parties, bolster confidence in the UAE’s financial system, and consolidate the country’s leading global position. H.E Khaled Mohamed Balama, Governor of the CBUAE, witnessed the signing ceremony of the Memorandum…
Read More »The Ministry of Energy and Infrastructure (MoEI) has teamed up with Shiba Inu to advance next-generation Web3 solutions in energy, infrastructure, and beyond. This collaboration marks a significant step in MoEI’s ongoing efforts to solidify its position as a global leader in digital transformation. The partnership leverages Shiba Inu’s diverse Web3 technologies to enhance public service efficiency, improve green infrastructure, and develop citizen-focused governance models. At the heart of the…
Read More »LCT, a pioneering fintech company based in Dubai, proudly announces its inclusion in the Public Register of the Government of Dubai’s Virtual Assets Regulatory Authority (VARA). The company has received In-Principle (Non- Operational) Approval for a Virtual Asset Service Provider (VASP) license. This milestone marks a significant step in LCT’s journey toward full compliance with VARA’s stringent regulatory standards. The In-Principle Approval underscores LCT’s commitment to adhering to VARA’s forward-thinking…
Read More »Etihad Credit Insurance (ECI), the UAE’s federal export credit company, has become the first insurance sector entity to join the KYC Blockchain Platform, an initiative led by the Dubai Department of Economy and Tourism (DET). This milestone aims to enhance ease of doing business, improve KYC compliance, and elevate customer data quality while fostering the platform’s growth as a trusted digital ecosystem. Her Excellency Raja Al Mazrouei, CEO of ECI,…
Read More »Klickl, a UAE-based Web3 financial platform, has announced a strategic partnership with IMKAN Properties, a leading real estate developer in Abu Dhabi, to facilitate property purchases through cryptocurrency payments. The collaboration aims to transform real estate transactions by introducing an innovative financial model that enhances accessibility for both regional and international buyers. By integrating Klickl’s cryptocurrency payment processing system, IMKAN seeks to offer secure, efficient, and flexible payment solutions, catering…
Read More »The Central Bank of Bahrain (CBB) has officially granted Fasset Financial Services a licence to offer crypto-asset trading services within the kingdom, which marks another step forward in Bahrain’s efforts to establish itself as a leader in the fintech and digital asset space. Abdulla Haji, Director of the Licensing Directorate at CBB, expressed the bank’s commitment to fostering a strong regulatory framework for digital assets. “We are pleased to announce…
Read More »The Cabinet of Jordan, under the leadership of Prime Minister Jafar Hassan, has approved the creation of a comprehensive regulatory framework for virtual and digital assets, with plans for implementation within a year. This initiative is part of the country’s broader strategy to align with international standards and strengthen its digital economy. This decision comes in response to directives from His Majesty King Abdullah II and His Royal Highness Crown…
Read More »The UAE Securities and Commodities Authority (SCA) has introduced draft regulations focusing on Security Tokens and Robo-Advisory Services. These drafts aim to establish a solid regulatory framework for tokenized finance and automated investment platforms while ensuring investor protection and market transparency. The SCA invites feedback from stakeholders by February 14, 2025. Bridging Innovation and Regulation With the rapid evolution of financial technologies, the UAE continues to lead the charge in…
Read More »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…
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