Digital assets infrastructure provider for financial institutions, Fuze Finance has been chosen as one of 15 startups to participate in Abu Dhabi’s Hub 71 2023 cohort. As per the website of Fuze Finance, the company was purpose built for the Middle East because the company believes the Middle East will be the epicentre of digital asset innovation. The MENA market, is seeing rapid growth in digital assets. Digital asset transactions of over $566 billion from June 2021 to June 20 22, 48% more than the year prior. Fuze was among 15 startups chosen because it is aligned to Abu Dhabi’s strategic ambitions, including   healthtech, fintech and edtech firms. The addition of the latest cohort has increased the size of Hub71’s ecosystem to more than 240 startups. In the latest cohort, 67 per cent of the selected startups are headquartered outside the UAE, reinforcing the increasing the status of Abu Dhabi as a global innovation and business hub. The 15 startups originate from the UA

  South Korean blockchain developer WEMIX and Hub71, Abu Dhabi’s global tech ecosystem, have signed a memorandum of understanding (MoU) to create and accelerate growth opportunities for their respective portfolio companies and Web3 startups. WEMIX startups will have the opportunity to join Hub71’s community of over 200 startups and gain access to its range of value-add programs and incentives. Select startups will also benefit from the ability to scale globally through Hub71’s web3 and digital assets specialist ecosystem, Hub71+ Digital Assets, to unlock access to a host of programs, initiatives, and wide network of corporate, government and investment partners in the UAE and global markets.   At the same time, startups within Hub71+ Digital Assets will be able to leverage the deep technical knowledge and expertise of WEMIX and its parent, Wemade, in different areas of blockchain technology including GameFi and DeFi. “Developing strong partnerships with key stakeholders like Hub7

  Abu Dhabi' Hub71, the technology ecosystem in UAE has launched the Hub71+ Digital Assets. This ecosystem is dedicated to advancing Web3, a decentralized online space built on innovations like blockchain technology and metaverse applications.  The ecosystem has over US$2 billion of capital committed to fund Web3 startups and blockchain technologies in Abu Dhabi. Hub71+ Digital Assets will offer Web3 startups access to an extensive range of programs, initiatives, and corporate, government, and investment partners in the UAE and global markets. The initiative will be based at Hub71 in Abu Dhabi Global Market (ADGM), providing Web3 startups with a progressive regulatory environment and world-class blockchain and virtual asset infrastructure.  FABRIC, is the the research and innovation center of First Abu Dhabi Bank (FAB), will be the anchor partner of Hub71+ Digital Assets, while digital asset exchanges and service providers are part of the initiative to facilitate the discovery, tra

  According to a report by ResearchAndMarkets, the NFT industry in the UAE is   expected to grow steadily, recording a CAGR of 32.1% during 2022-2028. The NFT Spend Value in the country will increase from US$982.1 million in 2022 to reach US$ 4.746.3 million by 2028. As per the report the non-fungible token (NFT) scene is growing as more and more entrepreneurs, businesses, and celebrities enter the fast-growing industry. Like the rest of the world, the UAE market is also rapidly adopting NFTs. The report notes that over the last 12 months, several innovative NFT marketplaces have also emerged in the country, which has made it relatively simpler for the general public to buy, sell, and trade in NFTs. From NFT-based startups to cryptocurrency exchanges, several players are entering the UAE NFT market; the presence of several NFT marketplaces has also supported the rise in NFT trading transaction value and volume, the trend expected to gain further momentum over the next three to fou