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
MetaEssence has teamed up with Dubai’s Roads and Transport Authority (RTA) as the official technology provider for the region’s first rail readiness drill. This pioneering exercise, utilizing metaverse and digital twin technologies, aims to enhance the crisis preparedness of the Dubai Metro, setting a new standard for public safety, operational resilience, and smart city innovation. The drill, part of RTA’s Emergency and Crisis Management Programme, was conducted in a secure…
Read More »Tranglo, a global leader in cross-border payments, has expanded its services to three new Gulf Cooperation Council (GCC) markets: Oman, Qatar, and Bahrain. This move is expected to bring secure and affordable remittance options to more than 30 million migrant workers in these countries, further supporting the growing demand for streamlined financial services across the GCC. This strategic expansion brings Tranglo’s innovative payment solutions to a broader audience of migrant…
Read More »Saudi Arabia is launching a new artificial intelligence initiative, backed by up to $100 billion, as part of its ambition to establish itself as a global technology hub, competing with the United Arab Emirates, as reported by Bloomberg. According to sources familiar with the plans, this state-backed project, dubbed “Project Transcendence,” will focus on developing AI through investments in data centers, startups, and infrastructure. Additionally, the project will aim to…
Read More »Easyrewardz, a leading provider of cloud-based CRM and loyalty platform, has announced a partnership with Loyyal, a UAE-based pioneer in blockchain-powered loyalty solutions. This collaboration is set to redefine the loyalty landscape by introducing enhanced point conversion capabilities and offering unique, experiential redemption options, giving customers more flexible and engaging ways to use their loyalty points. The collaboration will bring Loyyal’s innovative loyalty points exchange platform, Xpand Point to India’s…
Read More »ATME, a digital assets exchange licensed by the Central Bank of Bahrain (CBB), is setting new standards in the Middle East, with a mission to modernize capital markets. In fact, ATME offers a secure trading platform and complete real-world asset (RWA) tokenization services, empowering both businesses and investors. Operating as a digital marketplace, ATME enables companies to convert real-world assets—such as commodities, private equity, and real estate—into digital tokens stored…
Read More »As 2024 unfolds, stablecoins are taking center stage in the UAE’s cryptocurrency landscape. In the first half of the year, the total value of stablecoins received by services, particularly centralized (CEX) and decentralized exchanges (DEX), surpassed $9.8 billion—a remarkable 55% increase from the $6.3 billion recorded in the same period of 2023. This development has elevated stablecoins to dominate the crypto market in the UAE, now representing 51% of all…
Read More »On October 31, 2024, at 3:16 AM (GMT+4), UAE-based cryptocurrency exchange M2 faced a cybersecurity breach involving approximately $13.7 million in customer assets. Within minutes, at 3:32 AM, the exchange responded decisively to contain and address the breach. M2 has reported that all affected funds have been restored and that additional security measures are now in place to prevent future incidents. This recent event marks the second time this year…
Read More »Zand Bank has swiftly emerged as a significant player in the UAE’s digital asset ecosystem, transitioning from its initial role as the country’s first fully licensed digital bank into a potentially comprehensive digital asset service provider. With its upcoming Virtual Assets Regulatory Authority (VARA) custodian license and its potential application for a stablecoin license with the Central Bank of the UAE, Zand is positioning itself as a full-service ecosystem for…
Read More »Realize, a technology firm based in Abu Dhabi, has introduced an investment vehicle designed to purchase units of exchange-traded funds (ETFs) focused on U.S. Treasury bills and convert these assets into digital tokens for blockchain trading and transfer. Named the Realize T-BILLS Fund, it aims to acquire units from BlackRock’s iShares and State Street’s SPDR, tokenize them, and incorporate these assets into the fund. According to Dominik Schiener, co-founder of…
Read More »Changpeng Zhao, the founder of Binance, made headlines at Binance Blockchain Week in Dubai today, marking his first public speaking engagement since completing a four-month jail term. His return follows a period of legal scrutiny during which he admitted to violating the Bank Secrecy Act (BSA), prompting Binance to implement a more effective know-your-customer (KYC) program. Despite the challenges he faced, including a $50 million fine and stepping down as…
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