On August 23 rd  2022,  Michael Miebach the CEO of MasterCard posted  on LinkedIn,   “We can unlock the full potential of blockchain technology when we make it easier to access and easier to use. One way we do that is by bringing crypto to everyday purchases. To make that a reality, we’re working with Binance to let people use their crypto to make purchases at 90 million stores that accept MasterCard. We are launching this work in Argentina with plans to expand from there.”  It seems that the expansion will be in the MENA region and come very soon. So as mentioned, MasterCard and Binance will start offering customers the opportunity to pay for items with their Bitcoin and BNB, using a Binance Card. A prepaid card, that bridges crypto and fiat currencies, in Argentina. The plan is to then roll out this offer to include 90 million stores worldwide. The Binance Card can be used by anyone with a valid national ID to pay bills and make purchases with the c...

  Dubai’s Virtual Asset Regulatory Authority (VARA), with the commencement of its Minimum Viable Product (MVP) Phase, has announced Regulatory Guidelines on Marketing, Advertising and Promotions of VA across the Emirate of Dubai. The new VARA regulations specifically address marketing and communications activities, ahead of operationalizing the MVP licensees so that any mass-market information dissemination and consumer solicitation are designed to safeguard community interests. Regulations on Marketing, Advertising and Promotions of Virtual Assets cover all forms of outreach, communications and advertising, including publication of information, awareness building, customer engagement, and/or investor solicitation. VARA rules extend to VA related communications by any entity leveraging Dubai-based media sites, search platforms, and online or off-line publishing channels that explicitly target customers within the Dubai market, establishing guardrails on permissible audience...

Abu Dhabi has launched the Abu Dhabi blockchain and virtual assets committee. The Abu Dhabi Blockchain and Virtual Assets Committee is comprised of representatives of major entities and stakeholders active in this field including Dhaher bin Dhaher Al Mheiri, CEO of Abu Dhabi Global Market (ADGM) Registration Authority, Wai Lum Kwok, Senior Executive Director Authorization at ADGM, Mohammed Kaissi, Director of Strategic Projects at ADQ, Faisal Al Hammadi, Executive Director Incubation at ADQ, H.E. Mohamed Jameel Al Ramahi , CEO of Masdar, Dr. Nikolas Meitanis , Advisor at Masdar CEO Office,   Ibrahim Ajami, Head of Ventures and Growth at Mubadala, Eng. Abdulla Al Shamsi, Director General of Abu Dhabi Investment Office (ADIO), and   H.E. Dr. Maryam Buti Al Suwaidi, CEO of Securities and Commodities Authority (SCA). During the first meeting of the committee, under the chairmanship of H.E Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED...

UAE Cyber Security Council, Abu Dhabi Digital Authority (ADDA), and UAE Department of government support have launched the 1 st   annual global Capture the Flag (CTF) cybersecurity competition. Crypto is one of the themes included in the competition.  Established in November 2020, the UAE Cyber Security Council is tasked with developing and overseeing a cyber security strategy for the UAE, and creating a safe and strong cyber infrastructure, while Abu Dhabi Digital Authority was established to enable, support and deliver a digital government that is proactive, personalized, collaborative and secure. Both have come together with the support of UAE Department of government support to organize the first CTF cybersecurity competition. The CTF competition will be held at Gitex 2022 which will take place from 10-14 October 2022 at the Dubai International Convention and Exhibition Centre. The aim of the knowledge based challenge is to create a safer digital world. Challenges fall und...

  F2o Designs Shop and F2o Studio founded by Kuwaiti national Fatima Fawzi Alothman launches the idea of bringing the GCC Arab cultural element of Dewaniya to the NFT (Non Fungible Token) Web3 world Fatima, who currently resides in UAE, is a freelance illustrator specializing in character design, children's books illustration editorial and advertisement illustrations. She also offers traditional animation services. She holds bachelor's degree in civil engineering from the American University of Sharjah and a Master’s degree in fine arts from the Academy of Art University in San Francisco, USA. For those unfamiliar with both the Arabic term and the cultural social aspect of Dewaniya here is a small explanation. A   Dewaniya is a place where friends and people from the community gather to discusses ideas and spread messages related to both local and international issues, and even circulate jokes. It’s where voices are heard, echoed, and taken to further places. It is the we...

  UAE based La Boulangerie, a French bakery whose goal is to bring quality standards that will revolutionize the food delivery industry, is raising capital for its venture through Blockchain enabled P2P Security token investment platform STOKR. STOKR based in Luxumborg, is regulated under EU MiFID II law. The issuance of securities is governed by EU regulations and is available in a number of European countries. Both individuals and legal entities can invest on STOKR. Investors with just 100 USD can invest in La Boulangerie, as the token price is 1 USD, but a minimum investment of 100 USD is required. Investors can invest using Euro, USDT (ERC20), Bitcoin USDT liquid and other cryptocurrencies. As per Stokr website , the bakery will initially set up shop in the city of Dubai in the UAE but plans to expand across the UAE and GCC region. The food and beverage market in the UAE, particularly in Dubai, is already sizable with more than 11,000 businesses. Prominent established pl...

  According to a recent report by FDI markets published in FDI Intelligence, UAE topped the list of countries with most crypto related FDI projects. UAE had a whopping 15 projects making it number one. It was followed by the USA which attracted 11 crypto projects; Brazil came in third with 7 projects, followed by UK, Lithuania at 4th place with 5 crypto projects, then Singapore in fifth place with 4 projects, followed by Canada, Australia, ( 3 projects each) and France, Sweden with 2 projects  Some 98 foreign direct investment (FDI) projects were announced in crypto related activities in the first half of 2022, an increase of 145% from the same period in 2021. This number was higher than any pre-recorded database since 2016. It was also double the figure for the whole of 2021. Most of the companies who announced FDI projects in H1 of 2022 were those that involve crypto services, such as crypto exchanges, who set up new physical presence in foreign countries. This is true...

  Qatar has finally started to truly embrace blockchain. The Communications Regulatory Authority has launched a national consultation paper about the “National Blockchain Blueprint for Qatar”. The paper was collaboratively developed by CRA, Hamad Bin Khalifa University, and Qatar University. Qatar university recently announced its foray into the metaverse. The consultation paper will establish the blueprint for the blockchain framework in Qatar. It identifies key elements such as regulations, adoption, innovation and creativity. It also identifies the key blockchain requirements. The National Blockchain Blueprint highlights how blockchain technology can contribute to building an innovative and growing IT sector in Qatar by increasing domestic and foreign investment as stated in the CRA Strategy 2021-2025, to support Qatar National Vision 2030 (QNV) and Qatar National Development Strategy, as well as to enabling a seamless transition towards smart Qatar. The blueprint examin...

  21Shares, one of the largest issuers of cryptocurrency exchange traded products (ETPs), has expanded to the Middle East and hired Sherif El-Haddad, to Head the Middle East office from Dubai UAE. As per the announcement,  Sherif El-Haddad Crypto ETP issuer sets up MENA base in UAE joins 21Shares  in Dubai, where he will lead 21Shares’ market expansion in the region.  El-Haddad previously served as Head of Asset Management at Al Mal Capital. Before that, he was the Managing Partner of Pearl Capital Management and led the asset management division of EFG Hermes for over 13 years. El-Haddad has extensive experience in the financial services sector across the Middle East and a broad set of capabilities and networks. El-Haddad holds an accounting degree from The American University in Cairo. "In addition to Switzerland, where 21Shares is based, Dubai is one of the most exciting and favorable locations for crypto and blockchain businesses. As 21Shares embarks on its Middl...

  Qatar University has signed an MOU with Metavisionaries, a community of change makers, thought leaders and industry experts who are committed to providing access to the space economy and frontier technologies to build socially inclusive competency and human capacity required to meet immediate and future sustainability challenges. Metavisionaries is offering MetaEduVersity and space campus the Metaship which utilizes web3 and the metaverse combined with our physical SPACE INNOVATION LABS with our partners ICE Cubes. Qatar University while espousing to be the first university in the metaverse, will actually be joining 10 other US based universities who will be offering metaverse experience in the fall of 2022. Prior to Qatar University announcement, ten universities are getting set to launch their own metaversities this fall to provide students and professors with a “digital twin” replica campus in which to attend courses, using a Meta Quest 2 virtual reality headset provided t...

  Well know Lebanese media figure Wissam Breidy embraces crypto and partners with UAE’s Crypto Oasis ecosystem to help educate the region on Blockchain and Web3 which will increase adoption and engagement. Breidy will use his credibility as a popular and accomplished celebrity to help publicize the inherent potential of these disruptive products. As an Arab cultural icon, Breidy is the new ambassador for blockchain and Web3 for Crypto Oasis, the fastest-growing blockchain ecosystem in the world. As one of the most entertaining Arab TV show hosts in the recent era, Wissam Breidy will bring relevance and relatability as Crypto Oasis looks to scale blockchain and Web3 adoption in the region. Wissam is very passionate about decentralized technology and is committed to creating awareness within the Arab World. "The Future of the Internet has arrived. Web3, NFTs, and Metaverse are our tools for Universal State Layers with Open Gates. Embrace it --don't be late!," Breidy say...

DhabiCoin (DBC) has received a license from DMCC ( Dubai Multi Commodities Centre).  Felipe Leclerc, co-founder, DhabiCoin, said: “DhabiCoin is already launched, people can trade on various exchanges today. However, we are following a launch schedule, where we first release the DhabiCoin Wallet in the coming weeks, then the collections in NFTs with Dubai utilities and soon a marketplace of products and services by the end of the year. With the DMCC license DhabiCoin shows the serious commitment it has to generate security and people to be able to use DhabiCoin on a daily basis.” Leclerc further added: “With the wave of Web3.0, DhabiCoin is studying to enable the construction of an easy environment for companies to be able to connect in the metaverse, using DhabiCoin as a gateway of payment.”  Dhabi Coin is a utility token on Binance BEP20 which seeks to create a real utility ecosystem among UAE's biggest businesses including hotels, dealerships, tourism businesses and others....

  UAE based Encryptus, a platform for the trading of institutional crypto assets as an OTC (Over the Counter) service provider, with license for “Proprietary Trading in Crypto Commodities   from DMCC ( Dubai Multi Commodities Centre)   has partnered with record label Azadi records. The partnership will work on developing an NFT ecosystem and innovative use cases, which will give holders exclusive access to premium content, limited edition merchandise, VIP tour tickets and more. Moreso, Shantnoo Saxsena, Encryptus Founder and CEO states; “During the current bearish market, institutional support behind crypto remains strong, and Encryptus is glad to be playing an important role in institutional crypto adoption. It certainly doesn’t hurt that this institutional interest in the crypto market is also working to excite existing investors who were contemplating hastily pulling out of the market.” Considering how valuable NFTs have become, it is no surprise that Encryptus p...

  For the fourth time since 2019, Saudi Aramco Energy Ventures, a subsidiary of Saudi Aramco has participated in an investment round in Data Gumbo, the blockchain enabled smart contract provider. This time Data Gumbo raised 4 million USD in its Series C round led by Saudi Aramco Ventures and Equinor, Norway’s energy operator. In 2019, Data Gumbo the Houston based blockchain Technology Company which had developed a Blockchain-as-a-Service (BaaS) platform to streamline smart contracts management for industrial customers, completed a 6 million USD Series A equity funding round co-led by Saudi Aramco Energy Ventures, and Equinor. Then in 2020, Data Gumbo, closed its Series B funding round of 4 million USD led by new investor L37, a Bay Area and Houston-based venture capital company, with Saudi Aramco Energy Ventures as a participant in the round. In 2021 once more Data Gumbo closed a Series B funding round totaling 7.7 million USD with follow-on investments led by Equinor Ven...

  Blockchain provider Belfrics, part of Life Clips Group has set up its operation in the UAE after being admitted to DIFC (Dubai International Financial Centre) under Innovation business category. It is seeking a license for digital assets trading As per the news, this is part of Belfrics expansion plans into the MENA region especially given that the UAE is at the forefront of blockchain and crypto adoption in the region. Belfric’s will implement its proprietary blockchain Belrium identity and document management solution. Belfrics will be focusing on deploying decentralized applications for the government and non-government sectors in the health, education and human resource sectors. Belfrics office is located in the Central Park Towers, one of the most prestigious business towers in the UAE. Belfrics will further proceed to apply for the newly launched ITL (innovation testing license) for digital assets trading by DIFC. Through this new expansion, Belfrics Technologies Li...

  As UAE based Everdome, hyper realistic metaverse, prepared for the release of its Everdome Astro NFT collection which will be available for Genesis NFT holders, Everdome announced that GEM Digital Limited, a digital asset investment firm  invested 10 million USD in the company. Everdome’s NFT collection will be the first metaverse wearable NFT inside Everdome. Since June 2022, a total of 11,700 plots (97%) located throughout the Everdome metaverse were sold throughout an eight week auction experience. In total, plots were purchased for upwards of US$18.6 million, which is equivalent to 1,531,000,000 $DOME, Everdome's own digital currency. The average price of a plot of land in Everdome was 130,000 $DOME. Everdome will control the timing and the number of drawdowns under this facility, and has no minimum drawdown obligation. At its discretion, Everdome has the ability to sell up to 200% of their average daily volume in Tokens across multiple exchanges to GEM Digital. ...

  UAE Etihad Airlines has officially announced the release of its first NFT collection for sale under the name “EY-ZERO1”. On the Etihad website the airline announced that its collection is now on sale. As per the website announcement, “Aviation enthusiasts now have the chance to own digital 3D aircraft models showcasing our ten special liveries across our Dreamliner fleet. Each NFT comes with immediate Etihad Guest Silver status as well as other benefits.” The announcement goes on to list all the reasons for purchasing Etihad’s NFT collection. First is that the NFTs are a   unique piece of art in limited numbers, purchases will also have immediate Etihad Guest Silver status benefits as well as additional prizes for first time owners. The EY-ZERO1 sale has started with a limited number of to 2003 collectibles, each NFT is priced at US$349 (+ local sales tax). The sale will close on 18 August 2022 at 2pm UTC with all remaining unsold NFTs eliminated from the collection. ...

  VARA has made public all the entities that are currently licensed under its authority. The entities fall under various categories including crypto exchanges, DeFi custodians, DeFi asset managers, DeFi service providers, and DLT platforms.   As per VARA website in terms of native crypto exchanges, 13 crypto asset exchanges hold licenses. They include both international and regional players such as Binance, BitOasis, ByBit, CoinMENA, CoinMetro, Crypto.com, FTX (fully regulated with MVP license), GCEX Huobi, Midchains, Rain and OKx. In terms of DeFi custodians, VARA has registered Hex Trust, Komainu, Monstera and ZampFi Labs . Hex Trust as one example is a fully-licensed and insured provider of bank-grade custody for digital assets. Through their proprietary platform Hex Safe™, they deliver custody, DeFi, brokerage, and financing solutions for financial institutions, digital asset organizations, corporate and private clients. While ZampFi, is founded by: Amit Jain who wa...

   UK based Blockchain.com  secured regulatory approval from Italy’s Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP) allowing it to provide virtual currency and wallet services to Italian residents and institutional investors under the OAM’s regulatory framework. At the sametime Blockchain.com announced that it has a license underway in the UAE, through Dubai's VARA.  As per Blockchain.com medium article , “Through engaging with OAM we’ve been encouraged by the thoughtful approach to protecting consumers and preventing money laundering. A key growth market, Italy represents a significant economy in Europe with a high crypto adoption rate relative to its peer countries in the EU. Additionally, this milestone strengthens our position to offer services across Europe ahead of the forthcoming Regulation on Markets in Crypto Assets (MiCAR), a landmark law expected to take effect in 2024/2025 that will create a single market for crypto throug...

  The 2022 Worldwide crypto readiness report looks into the number of crypto ATMs, legislations, taxes surrounding cryptocurrencies, as well as the number of blockchain start-ups and the level of interest in crypto in order to find the most crypto ready countries. The 2022 report revealed that the UAE ranks third globally when it comes to the number of blockchain start-ups. The UAE has close to 120 blockchain start-ups or 1.2 blockchain startups per 100,000 people. As per the 2022 report, Hong Kong was number one on the list in terms of crypto readiness, The country was crowned the most crypto-ready as it ranked in the top three for three of the categories looked at, including the number of blockchain start-ups per 100,00 people and the number of crypto ATMs proportional to the population. Hong Kong also doesn’t tax capital gains on crypto, making it appealing to investors. Next up was the United States; the US took second place thanks to the huge number of crypto ATMs in the ...