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) recently unveiled its groundbreaking DAO Association Regime (DARe), a legal framework aimed at empowering Decentralized Autonomous Organizations (DAOs) to operate securely within traditional systems. In an exclusive interview with Unlock Blockchain, Luc Froehlich, Chief Commercial Officer at RAK DAO, shared his vision for how DARe bridges the gap between blockchain innovation and real-world application. “DARe is not about selling licenses; it’s about enabling the…
Read More »Tokinvest, a trailblazing marketplace for real-world asset tokenization and provisional VARA Licensed brokerage, has joined forces with SuperWorld to integrate tokenized RWAs into real-world locations through immersive technology. SuperWorld, a virtual platform overlaying the real world, allows users to create personalized “Worlds” that span Earth. Users can add content, share recommendations for places like hotels and restaurants, and monetize their audience’s interactions. With this collaboration, Tokinvest aims to enable investors…
Read More »The United Arab Emirates (UAE) has secured the fifth spot in the 2024 AI Index, issued by Stanford University, outperforming several leading nations. The ranking, which saw the United States, China, the United Kingdom, India, and the UAE take the top five positions, highlights the country’s growing leadership in artificial intelligence (AI). France, South Korea, Germany, Japan, and Singapore followed in the rankings from sixth to tenth place. The AI…
Read More »Singapore Gulf Bank, a digital-focused bank licensed in Bahrain, is reportedly aiming to secure at least $50 million (RM222.9 million) through an equity funding round. According to sources familiar with the matter, the bank also plans to acquire a stablecoin payments company in 2024 as part of its growth strategy. The bank, launched by Singapore’s Whampoa Group family office and operational since February, is in discussions with a Middle East…
Read More »As blockchain technology and digital assets continue to reshape the financial landscape, the risks associated with their adoption grow more complex. Institutions in the MENA region, especially those operating within decentralized ecosystems, face challenges in ensuring security, compliance, and operational resilience. Recognizing these needs, the Abu Dhabi Global Market (ADGM) has introduced a comprehensive Information Technology Risk Management Guidance. This framework provides a robust foundation for managing IT risks in…
Read More »The United Arab Emirates (UAE) is solidifying its position as a leader in Middle Eastern banking innovation, commanding the largest share of the region’s $3.2 trillion in banking assets. A new report by Arthur D. Little highlights the UAE’s transformative approach to digital banking and its influence on reshaping the financial industry across the Gulf Cooperation Council (GCC). With rapid digital growth, the UAE’s banking sector has achieved a Compound…
Read More »BlackRock, the world’s largest asset manager, has obtained a commercial license to operate in Abu Dhabi, further solidifying its presence in the Middle East. This development accentuates the company’s growing interest in the region, which is becoming an increasingly important global financial hub. The license, granted on November 18, allows BlackRock to deepen its engagement with Abu Dhabi’s financial ecosystem. The company also plans to seek regulatory approval to operate…
Read More »The Global Blockchain Congress (GBC) is making its grand return to Dubai on February 5-6, 2025, hosted by Agora Group. As a leading platform for connecting blockchain innovators with top investors, the GBC has built a stellar reputation through 13 previous editions in Dubai and international ventures in Vietnam, the UK, and Singapore. The event has consistently delivered outstanding results, facilitating significant funding opportunities for blockchain startups. Over its history,…
Read More »Dubai’s Virtual Assets Regulatory Authority (VARA) has issued a crucial directive for all Virtual Asset Service Providers (VASPs) operating within the emirate. As of September 18, 2024, VASPs must register with the Executive Office for Control & Non-Proliferation (EOCN) system for sanction alerts. This measure aims to ensure robust compliance with targeted financial sanctions (TFS) in accordance with UAE regulations, UN standards, and the Financial Action Task Force (FATF) guidelines.…
Read More »The Abu Dhabi Global Market (ADGM) has issued a new consultation paper as part of a broader regulatory update. This proposal aims to enhance the Financial Services Regulatory Authority (FSRA) guidelines for virtual asset activities, and ADGM is actively seeking feedback from market participants. Background: The Wider Context of Regulatory Amendments The current consultation, labeled Consultation Paper No. 10 of 2024, is part of a series of proposed amendments across…
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