UK based Blockchain company Valereum has received consent from the Gibraltar Financial Services Commission (“GFSC”) to complete the acquisition of the Gibraltar Stock Exchange (“GSX”). Valereum will utilize GSX to expand access of early stage and small cap companies in the Middle East, India and Africa to European Capital. In early 2022, Valereum stated that it would be purchasing 90% of the Gibraltar Stock Exchange (GSX) to create the world's first bourse where shares and crypto assets can be traded Valereum at the time stated that GSX would the first fully regulated bridge that links the fiat and crypto markets. As they noted at the time, "This will give listed instruments on the GSX access to a regulated pool of crypto capital that is not available anywhere else, and it will give cryptocurrency holders the ability to have a direct, verifiable holding in fiat securities." The recent press release notes that there is a significant gap in the available small cap m

  All women luxury jet charter, ME Jets, partners with UAE digital asset service provider Hayvn to offer crypto payment services. ME Jets Managing Partner Amy Spicer, stated,   “With the crypto world being relatively unknown to us at ME Jets we wanted a company that would offer a lot of support when getting started, and HAYVN did just that.   Our requirement was to partner with a global company with a local presence based here in the UAE,that supports local companies and builds a trusted business relationship. " HAYVN CEO, Christopher Flinos, added, “Being an all-woman team who saw an opportunity, makes ME Jets pioneers in the aviation industry, much like HAYVN is in the digital asset space. Partnering with ME Jets ensures HAYVN continues our expansion of crypto payments into the aviation charter and brokerage industry, adding further credibility to our global presence and abilities”. Hayvn’s customers in UAE include DAMAC properties.

  Amidst what some might consider as bearish markets especially for the crypto mining industry given high energy prices and decreased value in crypto markets, UAE’s crypto mining hardware retailer, Phoenix Technology is investing $300 million in crypto mining sites across the globe. As per recent news, Phoenix Technology is developing a large scale site in the United States which will be launched in Q2 of 2023. The site will utilize the latest mining technologies including immersive cooling. Carl Agren, CEO of Phoenix Technology, stated, “Phoenix Technology is aiming to switch from a regional player in the mining space to a global one. In other words, developing, maintaining, and operating sites all around the world. We have been currently focusing on the North American markets, mainly the US and Canada. However, we are planning on setting foot in other regions to try to identify opportunities in untapped mining areas. We are devoting $300 million to be invested in different sites

  UAE’s real estate agency Casa Nostra announced that it is now accepting cryptocurrencies from property buyers as well as renters. According to the tweet everything at Casa Nostra can be paid through cryptocurrencies. As per the tweet , “The future of real estate is here! You can buy your property with crypto. Rent, service fees, and everything can be paid through cryptocurrencies.” This is not the first real estate agency or property developer in the UAE to accept cryptocurrency payments. A while back DAMAC also started to accept cryptocurrency payments as has Emaar. Even UAE Properties developer Nakheel partnered with Abu Dhabi based crypto exchange Hayvn offering crypto payment options for Nakheel clients. Nakheel clients are able to pay for their rent, service fee, and real estate purchases in cryptocurrency. While Huobi partnered with fäm Properties to offer secure crypto payment options for its real estate investors, offering more payment flexibility with this new servic

  Saudi Arabia’s Information and Communication technology Commission has  launched  a blockchain enabled identity tracking management system for Bulk SMS messages in an effort to decrease fraud and enhance trust in Bulk messaging service offerings. The CITC utilized blockchain technology in both the governance and management of the system. The solution was launched during the Digital Technology Forum 2022 in KSA. CITC explained that this system will track 34,000 trusted SMS service providers  as well as decrease the operational cost for sending bulk SMS by these service providers by 66 percent. The blockchain enabled system will also  decrease the time needed to process requests by 60 percent. In addition 20,000 governmental and private sector entities will benefit from this system. The Blockchain enabled digital tracking management system will serve more than 46 million people as well as 25 local SMS service providers. The innovative solution aims to protect users and instill trust in

  UAE based crypto exchange BitOasis, and MasterCard are launching crypto card programs across the MENA region to facilitate day to day usage of cryptocurrencies at points of sale and ecommerce website. BitOasis customers will be able to convert their cryptocurrency holdings to fiat currency allowing the consumer to easily shop and pay at more than 90 million merchant locations globally. The first BitOasis cards are expected to launch in early 2023 in markets with regulatory approvals. BitOasis customers, who can also access a range of MasterCard benefits, will be issued with virtual and physical BitOasis cards through a simple and compliant digital on boarding experience via the BitOasis app, allowing them to transact seamlessly physically and online. BitOasis customer transactions will be enabled to take place in Fiat currency, thereby adding consumer protection - such as provisions for dispute resolution and refunds - which doesn’t exist today when paying with a digital asset.

  Bahrain international Circuit is now accepting crypto payments using Bahrain’s Eazy Financial services, which has a partnership with Binance. Using EazyPay, BIC will be provided with POS terminals at BIC outlets that will accept all types of debit and credit cards from Visa and MasterCard as well as the latest methods of payment using crypto assets via Binance application. BIC is now the first International Circuit in the World to accept crypto assets Payments in a regulated, secure and extremely fast manner. 35,000 fans attended the F1 Grand Prix race in 2022 which is held at Bahrain international circuit. The benefits of bringing in EazyPay to BIC will ensure simple and effective transaction journeys for customers, with a partner which is able to ensure first-class service. "We are pleased to have brought on Eazy Financial Services as a POS service provider," BIC Chief Commercial Officer Sherif Al Mahdy said. "The services they offer will benefit our operat

  Crypto mining is an integral part of the development of crypto economies. As the MENA region opens up its economy to digitization and crypto-related activities and as the world is challenged by an ongoing energy crisis, MENA is probing to become an attractive destination for crypto mining. While the biggest crypto mining markets are currently in the USA, China, Kazakhstan and Canada, the energy crisis and the crypto bear market could help the GCC become a leading crypto mining hub. Mohamed El Masri, founder and CEO of Permianchain, which operates Bitcoin mining data centers in Canada using wasted energy, states, “The adoption and implementation of blockchain data center infrastructure can support the digital stability and financial security of the GCC region. Hypothetically, the GCC has the opportunity to attract close to $1.0 trillion in economic growth by laying the groundwork for powering the digital economy.” El Masri confirms the main challenge is calling out the financial regul

    One of China’s biggest entertainment companies, WanTing Group, will be opening its venue in the GCC, with VISION in November 2022. The night club will located at The H Hotel Dubai, VISION will be the first night club build around the metaverse, where payments can be made in crypto and NFTs can be used and bought. It will also be   the only nightclub in the world to achieve cross-border collaboration with the famed Jacob&Co brand with the launch of the VISION x Jacob&Co wristwatch. Club-goers and crypto-owners will be able to turn coins into cocktails and enjoy a plethora of exclusive benefits at the venue, with NFTs also available for purchase and for use. Further elevating the guest experience, VISION will launch in partnership with Jacob&Co, the renowned luxury jewellery and wristwatch brand, to create exclusive VISION x Jacob&Co timepieces, that will be available to those who purchase the venue’s unique NFTs. An exclusive branded VIP table will also be esta

  In September 2022, Kevin O’Leary announced that he was launching a crypto fund in UAE called Cypher with a lead investor from the UAE, yet he did not mention who. Today it has become public knowledge that the lead investor is no other than UAE Cypher Capital. Vineet Budki, Managing Partner and CEO of UAE’s Cypher Capital, announced that the fund Kevin O’leary had mentioned at Converge22 was in partnership with Cypher Capital. In his LinkedIn post he states, “We look forward to an amazing relationship with Kevin O’Leary and Paul Palandijian, CEO of O’Leary Ventures and as always the super human effort of Bijan Alizadeh Founder of Cypher Capital and Munaf Ali, Founder and CEO of Phoenix Group.” He adds in his post, “The new bigger Cypher Capital fund is coming and we are happy to support the Web3 and Blockchain ecosystem globally and in MENA.” It seems that the announcement was also made by Alizadeh during Gitex 2022 at TDeFi stage.  Kevin O’ Leary, nicknamed "Mr. Wonder

  For the first time ever Abu Dhabi Finance week organized by ADGM in association with Abu Dhabi Department of Economic Development (ADDED) will be holding Crypto Abu Dhabi on November 16 th 2022. Abu Dhabi Finance Week (ADFW)’, is set to run between 14th November 2022 and 18th November 2022. As per the event synopsis, Crypto Abu Dhabi in partnership with Roland Berger, will explore the next era of Digital Assets as the technologies experience the growing pains involved with shaping true innovation. The agenda of the conference will focus on the underlying blockchain and cryptography technologies that drive the innovation, and why financial products are served by their application. The event will also focus on how major global financial institutions are now developing digital asset strategies, and how the tokenization of private market assets will open up a new multi-trillion dollar democratized opportunity for investors globally, and why regulation is on the horizon. Some re

    UAE Crypto Oasis ecosystem published its first annual report entitled the “Crypto Ecosystem in the UAE” with the collaboration of Roland Berger. The report highlighted the growth that the UAE has witnessed in its blockchain crypto ecosystem which has resulted in the employment of 7000 people across 1400 blockchain crypto entities currently operating in the country. As per the report the number of blockchain crypto organizations is more than 1400 in total where 66 percent are native organizations and 34 percent are non-native. Saqr Ereiqat, Co-Founder and Managing Partner of Crypto Oasis Sentio, the investment arm of Crypto Oasis, told LaraontheBlock, “Based on the information we have the blockchain crypto ecosystem in UAE has employed approximately 7000 people.” These 1,400 plus ventures are leveraging distributed ledger technologies and related technologies to build and provide new value propositions with Blockchain innovation. Interestingly the report confirms that the UAE

  In a recent report published by CoinCub, the UAE ranked 4 th in the third quarter of 2022 as the most favourable crypto economy globally. Germany ranked 1 st place, followed by Switzerland at 2 nd place, then Australia in 3 rd . USA ranked 7 th globally. The crypto economy rankings compiled by Coincub looked into various factors such as favorable crypto outlook, clear crypto tax rules, more transparent regulatory communications and more to rank countries. As per the report, Germany although not a tax haven, is considered one of the strongest all-around ‘traditional-tax’ crypto economies that reward long-term crypto holders. German law charges zero tax on crypto holdings of over a year. Switzerland ranked second with its positive crypto regulatory stance and is home to some of the top crypto organizations in the world. Australia has shown a great appetite for crypto and the government has been equally supportive of it over the past year, pushing positive crypto legislatio

  More and more Arab females are starting to enter the blockchain ecosystem, and are being recognized for their Blockchain projects. This month both in Oman as well as Saudi Arabia, young women developed blockchain projects that will add value to their economies and societies.  Oman in its efforts to support SMEs (Small Medium Sized), has accepted and will be funding a project developed by Egyptian engineer Mirna Mohamed. The blockchain enabled project looks to oversee the value added tax system that is being utilized in the Oman today. In an interview Mirna Mohamed states, “My father is a credit manager and for him this was an important topic so he assisted me in developing an accounting budget system using latest technologies which included new value added tax system in Oman. I chose Blockchain because it is one of the best technologies that allow the Oman government to review and oversee the accounting procedures of different companies including their VAT disclosures.” One o

  UAE Dubai Future District Fund, e&Capital ( formerly known as etisalat group) as well as other well renowned VC funds have invested $20 million in Web3 metaverse social app content provider VUZ. The series B investment round included international investors such as Caruso Ventures, Vision Ventures VC Fund, SRMG , Panthera Capital, Faith Capital and Webit Investment network. In addition to the new investors, VUZ formerly known as 360VUZ is backed by investors such as Knollwood Investment Advisory, AlTouq Group, Impact46, UAE Shorooq Partners, KBW Ventures, Media Visions, Hala Ventures, 500Startups, DAI, Al Falaj, Magnus Olsson, Samih Toukan, Jonathan Labin, DTEC Ventures, Plug and Play Ventures, Al Rashid family and other strategic angel investors. With this round, VUZ is now backed by a mix of investors based in the US and EMEA that will play a major role in supporting VUZ in its international expansion. VUZ bridges the gap between the physical and virtual worlds to offer pre

Global VC firm Brinc has offered crypto entities residing in UAE’s DMCC ( Dubai Multi Commodities Centre) Crypto centre access to a $150 million accelerator fund. Brinc is a portfolio company of Animoca Brands, a global leader in Web3 and blockchain investment. Members in the crypto centre at DMCC will  gain access to Brinc’s global network of innovative start-ups as well as business mentoring services from their new office in DMCC. The partnership will support the long-term and rapid growth of the companies that develop Web3 and blockchain technologies and associated value-added services at the DMCC Crypto Centre. By providing an unparalleled environment for crypto entrepreneurs, SMEs and multinationals, the DMCC Crypto Centre has attracted over 450 crypto firms since its launch in 2021, making it the largest concentration of blockchain and Web3 businesses in the region.  The DMCC Crypto Centre members operate in a broad range of sectors, using blockchain and Web3 technology in areas

  UAE based Venom Blockchain which recently received a license from ADGM ( Abu Dhabi Global Market)  in early October 2022, now has a regulated virtual asset exchange on its roster, Yoshi Markets,  renamed to Venomex. In March 2022, Yoshi Markets previously known as Arabian Bourse Limited (ABX), received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The FSP allowed Yoshi Markets to operate as a Multilateral Trading Facility (MTF) and Custodian for virtual assets. Now Yoshi Markets has renamed itself to Venomex, reflecting the recently approved Venom Blockchain platform, which will allow the provisioning of virtual assets and blockchain based services. Venom blockchain is building the first NFT marketplace in the UAE from ADGM as well as the issuance of first fiat backed stablecoin. Mustafa Kheriba, the Executive Chairman of Venomex, stated, “This is an exciting time for us at Venomex. The new na

  UAE Mubadala Capital, a wholly owned subsidiary of Abu Dhabi sovereign fund Mubadala, is sponsoring for the first time a crypto event in the United Kingdom. Mubadala Capital, global asset managers with a presence in Abu Dhabi UAE, London, New York, Rio de Janeiro, and San Francisco, manages over $16 billion worth of assets. Mubadala Capital is participating as a bronze sponsor at the Token 2049 event in London. While Mubadala Capital commenced operations in November 2021 as a subsidiary, it had been investing for over a decade. The wholly owned asset management is focused on investing in disruptive technologies. The company had grown significantly in scale over the past decade, with $9 billion in third-party capital vehicles on behalf of over 50 institutional investors. While Mubadala Capital has a strong portfolio of investments in companies across the sports media and entertainment sector including EMI Music Publishing, Endeavour Group Holdings, Reigning Champs, Ultimate Figh

Fresh Del Monte Produce a global integrated producer, distributor, and marketer of fresh and fresh cut fruits and vegetables has  acquired a 39 percent stake in Jordanian Blockchain driven food safety and traceability startup Decapolis.  The investment is part of Fresh Del Monte’s technology-driven mission to offer best-in-class, innovative solutions for its products and services, and to provide sustainable solutions that other businesses and industries can benefit from. The two companies plan to roll out Decapolis Food Guard (DFG)™, the blockchain-based traceability solution, across all Fresh Del Monte business segments, starting with Fresh Del Monte’s pineapple operations in Costa Rica.  Decapolis Food Guard provides full traceability solutions through the DFG chain of records which capture assessments at each stage of production, from planting to distribution through the use of QR codes. Deploying blockchain technology ensures data remains immutable and QR codes on product labels ce

  Dubai Airport Freezone (DAFZ), part of Dubai Integrated Economic Zones Authority (DIEZ), will be launching its metaverse called METADAFZ during Gitex 2022. The launch is part of the Dubai metaverse strategy, and   aims to attract foreign direct investment (FDI) and businesses to the free zone, by uncovering DAFZ’s unique offerings, products, and solutions to advance the Emirate’s leading position as a hub for competitive and constructive technology. METADAFZ will enable clients from across the globe to conduct meetings via a virtual platform, offering a unique and semi-realistic experience regardless of the physical location. The innovative initiative offers an alternative to the traditional way of conducting business activities, and empowers company representatives to discuss future work prospects, as well as how to launch businesses and projects in Dubai. Amna Lootah, Director-General of Dubai Airport Free Zone (DAFZ), said, “Since its establishment more than 26 years ago, DA

  UAE ADGM ( Abu Dhabi Global Market) announced on LinkedIn that Venom Blockchain has become the first ADGM licensed crypto foundation to build a scalable blockchain platform. ADGM also stated, “Venom is on its way to developing an NFT marketplace, derivative exchange and fiat-backed stablecoin” The statement adds that Venom Foundation is set to become one of the most anticipated blockchain phenomena, enriching the ADGM community and the nation as a whole! As per the news Venom Foundation perpetually works on providing an abundant bundle of scalable blockchain-powered products and services for the wider financial community. Through robust security measures and a rich database, Venom Foundation has produced an array of self-sufficient tools, including ewallets, decentralised exchanges and more. The statement then adds, “Subject to the relevant regulatory approvals, Venom Foundation will work with ecosystem participants to ensure that such products are offered in a compliant manner with

  The BSV Blockchain association MENA chapter is working on several blockchain education and implementation projects to drive innovation in the UAE. To launch these initiatives BSV Blockchain will be hosting a VIP reception event in Ras Al Khaimah on October 8 th 2022 at the InterContinental Ras Al Khaimah Resort and Spa. Members of the UAE royal family, C-level executives and select members of the media will be in attendance. Muhammad Salman Anjum, BSV MENA Hub Lead and Chief Mate of InvoiceMate stated, “This event will include the rolling out of training programmes in the Ras Al Khaimah to orient government decision makers and educate local developers and entrepreneurs on the capabilities of the BSV blockchain, an initiative that has already received great interest in the UAE.” At the event notable speakers and global industry experts will share their uses cases built on BSV Blockchain. They include names such as Marcin Zarakowski - Chief of Staff at BSV Blockchain Association