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
Tokinvest, a pioneering marketplace for real-world asset investing, today announced it has received a full market licence from the Dubai Virtual Assets Regulatory Authority (VARA). Tokinvest is the first company inside Dubai’s DMCC International Business District to receive an operational VARA license and one of only a handful of regulated end-to-end real-world asset investing platforms globally. The company was founded by Scott Thiel and Matt Blom to break down barriers…
Read More »MANTRA, a blockchain platform specializing in real-world assets (RWAs), has partnered with Dubai-based DAMAC Group to tokenize assets in the Middle East valued at a minimum of $1 billion, the companies announced on Thursday. Asset tokenization involves converting ownership or rights to assets, including RWAs, into digital tokens on a blockchain. These tokens can then be traded and owned digitally, offering the promise of enhanced liquidity and accessibility. DAMAC, one…
Read More »Mastercard has announced the introduction of its Mastercard Crypto Credential solution to the UAE and Kazakhstan, marking its debut in the Eastern Europe, Middle East, and Africa (EEMEA) region. Mastercard Crypto Credential simplifies crypto transactions by enabling users to send and receive cryptocurrencies using easy-to-remember aliases instead of complex blockchain addresses. This is made possible through Mastercard’s partnerships with leading exchanges and providers in the region. The solution ensures secure…
Read More »Emirati billionaire Hussain Sajwani announced a plan to invest $20 billion in the rapidly expanding U.S. data center industry, a commitment revealed alongside U.S. President-elect Donald Trump on Tuesday at Trump’s Palm Beach, Florida residence. “We’re planning to invest $20 billion and even more than that, if the opportunity in the market allows us, in US data centers catering to AI and cloud businesses” said Sajwani, the chairman of Dubai-based…
Read More »The Middle East’s financial sector is increasingly becoming a prime target for sophisticated cyberattacks. This surge in threats is driven by the widespread adoption of mobile financial services, online transactions, and emerging technologies such as artificial intelligence (AI) and cloud computing. These advancements have expanded potential vulnerabilities, making financial institutions more susceptible to cybercriminals. According to the World Economic Forum’s Global Risks Report, cybersecurity has now emerged as one of…
Read More »The blockchain industry in the UAE is experiencing remarkable growth, with an annual rate of 42%, according to the latest report by MarkNtel Advisors. This surge is fueled by proactive government initiatives, such as the UAE Blockchain Strategy, positioning the country as a leader in adopting this transformative technology. The national vision aims to digitize 50% of government transactions using blockchain by 2031, accelerating the nation’s digital transformation. These forward-looking…
Read More »Two key players within the Digital Assets Lab of the Qatar Financial Centre (QFC) have announced a strategic partnership aimed at advancing distributed ledger technologies (DLT) and digital assets across industries. The collaboration between SettleMint, a blockchain transformation company, and The Hashgraph Group (THG), a Swiss-based leader in venture capital, technology, and business innovation, seeks to make DLT more accessible globally and drive widespread adoption. Launched in September 2024, the…
Read More »Crypto.com has partnered with Dubai Islamic Bank (DIB) to introduce Sharia-compliant products and expand its reach in the United Arab Emirates (UAE). According to a press release, the agreement focuses on launching financial solutions like tokenized Islamic sukuks and real-world asset tokenization. The deal was signed by Crypto.com’s UAE President of Operations, Mohammed Al Hakim, and Dubai Islamic Bank’s Chief Digital Officer, Musabbah Al Qaizi. The partnership aims to strengthen…
Read More »The Syrian Center for Economic Research (SCER) has unveiled a bold proposal to incorporate Bitcoin into the nation’s financial system. On December 31, Bam, the founder of the Arabic crypto channel Bitcoin 21, shared the SCER’s proposal on the social media platform X, stating: “The Syrian Center for Economic Research publishes a proposal for the transitional government to legislate Bitcoin in Syria and digitize the Lira.” The Syrian Center for…
Read More »The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has released Consultation Paper No. 11 of 2024, outlining proposed changes to its regulatory framework for businesses involved in virtual assets. The paper seeks feedback on potential amendments to the rules governing authorised entities conducting regulated activities related to virtual assets in ADGM. Key proposed changes include revisions to the process for accepting virtual assets for use…
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