When I decided in May 2022 to go on my own and start LaraontheBlock, I didn’t know where it would take me or how I would be able to succeed, but what I did know is that I had gained a lot of experience from my life and my career, and I was living in an age the digital one that not only democratized information and value but also gave individuals the freedom to be able to chase their dreams, work from anywhere in the world, and have their talents and voice heard! Today a year and half later, thankful for all the positive responses I receive for the articles I write, for the news I post, and for the sharing of information that helps to grow the blockchain and crypto ecosystem in the GCC and MENA region, I am moving the LaraontheBlock dream from blogger.com to my own full-fledged website www.LaraontheBlock.com  The success of LaraontheBlock blog was fantastic, and this couldnt have been done without the strong community of readers, followers, startups, partners, and community.  It w

  BITMAIN, crypto mining leading ASIC manufacturer enters MENA through a collaboration with Oman’s Blockchain Data center and technology park Exahertz and MoonWalk. This collaboration marks a significant leap forward as Exahertz takes on the role of hosting upwards of 10,000 state-of-the-art BITMAIN machines in the pioneering Exahertz Technology Park, nestled in Salalah, Oman. According to the press release, “This isn’t just any partnership, it’s BITMAIN‘s first-ever hosting venture in the Middle East and a groundbreaking initiative for hydro computers worldwide. The Exahertz Technology Park, standing tall as the Middle East’s largest private Blockchain Data center, underscores Exahertz’ unwavering commitment to innovation and progress.” Exahertz International, recently kicked off a pilot phase of Exahertz Technology Park in Salalah. In collaboration with their strategic partners Moonwalk Systems, they rigorously testing and optimizing the hydro systems to ensure peak performanc

Venture capital fund Varys Capital is looking to enter the GCC market, and is working to raise $75 million for its equity fund focused on blockchain innovation. The fund aims to achieve long-term growth from a curated portfolio of high-quality, early-stage businesses utilising blockchain to solve addressable needs in the wider software, gaming, and finance industries.  To govern its entry into the UAE, Varys Capital has secured reputable local services, including Al Tamimi, one of the GCC’s most prestigious law firms, as its primary counsel. According to the press release, the company has received inquiries from local institutions and prominent investors. The fund has 12 commitments in place across decentralised (DeFi) and centralised (CeFi) finance, GameFi/Web3, infrastructure, and emerging technologies. Darius Askaripour, Managing Partner, Varys Capital said, “We are looking at entering the UAE market first encouraged by supportive local government directives, its high innovation lev

  UAE’s ADQ, Silal, which enhances agriculture and food safety in Abu Dhabi by diversifying and stimulating food production sources via technology, research and knowledge transfer initiatives for farmer, has just launched its blockchain powered platform to trace the lifecycle of food from farm to fork. As per the news announcement, using the new traceability service is as simple as scanning the QR code of a Silal Fresh product through the Silal App. This traces the journey of crops, assuring users that the data appearing on their screen is credible. This move is a milestone towards achieving food credibility, gaining customers' trust and loyalty. Enhancing food chain transparency is important for companies to ensure consumers of the quality of their products and to sustain efficient supply in the market, prevent foodborne illnesses, and detect the source of a problem in the event of an outbreak. Knowing the source of food is essential for good health and wellbeing, which dr

  UAE regulated virtual asset broker dealer and investment management services, Laser Digital, a subsidiary of Nomura has launched their Bitcoin Adoption Fund. The fund, which provides a seamless way for institutional investors to access the digital asset class, will be the first in a range of digital adoption investment solutions that Laser Digital Asset Management will bring to the market. The Laser Digital Bitcoin Adoption Fund, provides long-onlyexposure to Bitcoin whilst being one of the most cost effective and secure investment solutions. To secure the fund's assets, Laser will use Komainu, which was founded in 2018 by Nomura, Ledger and Coinshares and delivers a regulated custody solution for institutional digital asset investors. The Fund is a segregated portfolio part of Laser Digital Funds SPC, aSegregated Portfolio Company registered asa mutual fund pursuant to section 4(3) of the Mutual Funds Actwith CIMA (Cayman Islands Regulatory Authority). On launching the

    In a news piece on Oman News agency, the Board of governors of the Central Bank of Oman, held their third meeting for 2023 where the followed up on developments as well as reviewed the international stance on cryptocurrencies as well as related studies conducted by the executive management team at the central bank on cryptocurrencies. This comes as Oman works on its virtual asset regulations, having   at the end of July 2023 announced a public consultation paper on virtual assets regulatory framework by the Oman Capital Market Auhtority. The Capital Market Authority, Sultanate of Oman (CMA), which regulates and develops Oman's financial markets for the capital market and insurance sectors, had earlier announced its plans to establish the new regulatory framework for Virtual Assets (VA) and Virtual Asset Service Providers (VASP). The proposed new regulatory framework is envisaged to cover activities such as crypto assets, tokens, crypto exchanges, and initial coin offe

    As Taurus, digital asset infrastructure provider, offer digital custody and tokenization services, partners with Deutsche Bank, it plans to expand into the UAE among other countries. Founded in 2018, Taurus offers enterprise-grade digital asset infrastructure for the issuance, safeguarding, and trading of various digital assets, including cryptocurrencies, tokenized assets, NFTs, and digital currencies. The company’s product portfolio includes Taurus-Protect, a secure storage solution used by over 25 financial institutions and corporations in Europe, and Taurus-Capital, which facilitates the issuance and management of NFTs and tokenized assets on public and private blockchains. Deutsche Bank’s partnership with Taurus builds on the bank’s recent initiatives in the digital asset space. By leveraging Taurus’ technology, the bank aims to meet the evolving needs of its clients in the digital asset ecosystem. Paul Maley, the global head of securities services at Deutsche Bank, emph

  In the fourth annual Chainalysis Global crypto adoption index , identifying countries where the most people are putting the greatest share of their wealth into cryptocurrency, once again Morocco takes lead and is listed as one of the top 20 countries placing an Arab country on the map, while Turkey places the MENA region. The 2023 report states that global adoption is down, but not in one crucial subset of the world. More specifically, there’s one crucial segment of countries where grassroots adoption has seen a much stronger recovery than anywhere else: Lower middle income (LMI) countries. The full report will be out in October, but compared to 2022 , the countries on the top 20 list are still almost the same.   In 2022 Turkey, Egypt and Morocco led not only in MENA   region but globally. All three countries were in the top thirty list of countries with most crypto savings, usage of crypto for remittance payments and permissive crypto regulations. As for Sub Saharan Africa, t

  IOTA, distributed ledger built for the “Internet of Everything” , has announced that it is establishing a foundation and another headquarter in Abu Dhabi UAE, as part of their commitment to developing a digital infrastructure and innovation ecosystem in the UAE.   IOTA’s Tangle is an open, feeless and scalable distributed ledger, designed to support frictionless data and value transfer. The IOTA foundation will   grow IOTA’s reach and importance around the globe. As per IOTA news release, the purpose of this entity is to become one of the primary organizations to foster the growth, adoption, and global expansion of IOTA. IOTA states, “As we open up a new chapter with IOTA, we need to match technology with the right support to establish IOTA as a global ecosystem. We can only do this by operating out of the right environment. We are convinced that the UAE will offer IOTA the best environment to realize its global ambitions.” IOTA considers the new entity in Abu Dhabi as an addi

    The QAN platform unveiled its private blockchain on September 12 th 2023. The platform which is both quantum resistant and compatible with Ethereum’s EVM received support from Qatar ruling family member H.E. Sheikh Mansoor Bin Khalifa Al Thani.  In a privately held partner event prior to the public launch of QANplatform, H.E. Sheikh Mansoor Bin Khalifa Al-Thani, Member of the Qatari Ruling Family, Chairman of MBK Holding, and former ICT Director for The Council of The Qatar Ruling Family Affairs stated, “We always evolve but not everyone leads the way. I’m proud to support the introduction of a cutting-edge deep tech project, such as QANplatform, in the Gulf region and on the global market.” According to launch blog, “ QANplatform has unveiled the world’s first private blockchain that is both quantum-resistant and compatible with Ethereum’s EVM, while also enabling developers to code smart contracts in any programming language. The NIST-recommended primary post-quantum algo

  The Central Bank of the UAE, and the Bank of international settleents along with Emirates Institute of Finance, have called innovators and developers to submit blockchain solutions for auditing, enhancing transparency, traceability and accountability in sustainable finance. The call comes unser the COP29 UAE TechSprint, an initiative aimed at promoting innovation in scaling sustainable finance and combating climate change. The launch of the COP28 UAE TechSprint comes ahead of the UAE’s hosting of COP28 later this year. The initiative aims to encourage the participation of financial innovators and developers from global private and public sector entities in fast-tracking innovative technology solutions to address challenges in green and sustainable finance through technologies such as Artificial Intelligence (AI), Blockchain, Internet-of-Things (IoT), and sensor technologies across three problem statements: AI solutions for sustainable finance reporting, verification, and disclosu

  Dubai regulated virtual asset broker and exchange TOKO FZE a creation of international law firm DLA Piper, has partnered with   Virtuzone, a pioneer in business solutions and corporate services for the region. The partnership will include the establishment of a tokenized equity crowd funding platform will further cement Dubai’s standing at the forefront of financial innovative and as a destination for early stage and fast growth companies seeking a supportive business environment. TOKO has just received a fully operational license from Dubai’s Virtual Asset Regulatory Authority (VARA). The partnership with Virtuzone is set to transform early-stage private equity fund raising using blockchain technology to bring enhanced transparency, accessibility, and opportunity for both investors and the businesses seeking to raise funds. Across a variety of compelling businesses, investors will have greater insight, information and access to private equities for their portfolio and the expec

  Dubai headquartered Helion Ventures, Web3 VC and venture builder, has announced that it will be investing in gaming companies. In a linkedin post , Helion ventures are announcing investment in gaming companies. As they noted in their post, “ The web3 gaming industry will hold significant importance for the economy by transforming the gaming industry and creating new economic opportunities.” Entities can apply now and get the chance to fund your project: https://lnkd.in/djj_uycN This announcement comes after Web3 gaming startup GAM3S.GG.based out of Abu Dhabi UAE has just raised $2 million in seed funding led by investment firm Mechanism Capital and other angel investors including   Polygon, Double Peak, ArkStream Capital, LD Capital, ROK Capital, Hyperithm, Snackclub, Emurgo Ventures, Eden Ventures and Mix Marvel Ventures. In addition South Korea's Blockchain, NFT, metaverse game developer and publisher WeMade   also recently signed an onboarding agreements with severa

  UAE based OasisX is raising funds for Lebanon’s Childrens Cancer Center leveraging NFTs. As per the LinkedIn post, CCCL ( Childrens Cancer Center Lebanon) will utilize OasisX’s no-code Creator Studio and their creative production team to seamlessly bring the art created by these courageous young souls to the blockchain and the world. The post states, “ At Oasis X, we are committed to pushing the boundaries of what blockchain technology can achieve. This partnership exemplifies our dedication to using cutting-edge solutions to leave a lasting & positive impact, and bring expanded use cases to the NFT & Web3 space.” OasisX launched back in July 2022. Dubai-based OasisX, the first multi chain curated NFT Marketplace and Creator Studio launched to pave the way for MENA based creators, collectors, and brands to take part in this new digital era. The platform had at the time already on boarded more than 100 artists for its launch in addition to multiple regional brands for w

  Dubai International Financial Centre (DIFC), announced graduation of its first metaverse cohort of 10 regional and global start-ups as part of its ‘DIFC Metaverse Accelerator Programme, which included blockchain Web3 Social ecosystem platform startup Daoversal.  The news follows the launch of DIFC’s Metaverse Platform earlier this year, in line with the Dubai Metaverse Strategy, which aims to add USD 4bn to Dubai's GDP, support 40,000 virtual jobs by 2030, and attract 1,000 companies specialised in blockchain and metaverse technologies. At the time DIFC had noted it would choose 50 startups, yet it seems that only 10 have graduated.  The inaugural ‘DIFC Metaverse Accelerator Programme’ was the first initiative announced under the ‘DIFC Metaverse Platform’ umbrella, and attracted over 160 applicants from the UAE, UK, US, India and France, with a focus on primarily Metaverse, AI, Web3, AR/VR and Blockchain sectors. The ‘DIFC Metaverse Accelerator Programme’, backed by progr

  Standard Chartered’s backed digital asset platform, Zodia markets, has received an In-Principle Approval (IPA) fulfilling the pre-requisites to receive a Financial Services Permission (FSP) for OTC broker-dealer in virtual assets by Abu Dhabi Global Market (ADGM), Abu Dhabi’s international financial center. As per the press release, Zodia Markets has chosen to expand into the UAE as the region establishes itself as a rapidly emerging hub for digital assets. The strategic expansion provides institutional investors from the Middle East and Africa with reliable access to this growing, alternative asset class, consolidating Zodia Markets’ position as an integral part of the global digital asset landscape. Salem Mohammed Al Darei, CEO of ADGM Authority said, “We congratulate Zodia Markets on receiving the IPA from ADGM and welcome them to our vibrant ecosystem. Our evolving regime, progressive regulatory environment, and strong value proposition support businesses in the digital asse

  Out of over 100 plus applications, UAE based Aurus, which tokenizes precious metals including gold, silver and platinum using blockchain technology, has been selected as one of the 25 companies that will be joining Dubai’s DMCC ( Dubai Multi Commodities Centre) and TDeFi accelerator program. The accelerator program is aimed towards Web3 and Blockchain companies based out of Dubai offering mentorship, support, and business scaling opportunities.   The acceleration program kicks off on September 5th, 2023, with a range of mentor sessions covering legal and compliance, web3 marketing, fundraising, and token economics. Participants are able to gain practical experience by using their own projects as case studies during workshops on token economics and token markets management. The program culminates in a Demo and Pitch Day, with 20+ venture capitalists and investors serving as judges, representing over $IBn in cumulative AUM. The program’s conclusion is more than just a pitching ses

    UAE based Emirates NBD has inveted in Blockchain enabled Komgo, trade finance platform. As per the press release , the strategic equity investment was made by Emirates NBD’s Innovation Fund, the Bank’s corporate venture fund.   The fund created in early 2023, aims to strengthen synergies from strategic partnerships by combining the Bank’s digital ambitions and regional expertise with the agility and technological innovations of fintech companies. Emirates NBD’s corporate venture capital arm will enable the Group to make investments in tech start-ups and companies that further support its digital strategy. The Innovation Fund’s mandate is to invest in a wide range of stages, from early to growth, depending on the strategic fit for the Group, with the aim of delivering strategic benefits and realising a long-term return from investments. Komgo’s solutions empower Treasury, Credit, and Trade Finance operations, streamlining communications and strengthening operational capacity

  In KPMG and Agreus’s   2023 Global Fmaily Office Compensation Benchmark Report which found that financial wealth, generated by ultra-high-net-worth individuals and family offices is forecasted to increase to 46% by 2026 and that Crypto, a growing area of interest in the UAE, could play a small role in global family office portfolios as CEOs and MDs explore it and fall into the category of fun. As per KPMG Agreus report, “ Diversifying does not always mean investing heavily in the likes of cryptocurrency but rather, decentralizing risk by spreading investments across multiple areas with precedents of high return. Crypto like many ‘new’ asset classes may well continue to play a very small role in Family Office portfolios but it is envisioned this shall fall into the category of fun, a small percentage for Principals to play with either for passion or simple curiosity.” KPMG report believes that while the coming years could see the introduction of yet another new and exciting asset

  UAE DMCC crypto center TDeFi , a global Web3 incubator and consultancy company,   have entered the final phase of registrations for the second cohort of a Web3 startup incubator at the DMCC Crypto Centre. Last day for applications is September 1st 2023. TDEFI will offer $100,000 for select startups with VC Funding.  All applicants will receive priority guidance and services from DMCC to formally set up in the DMCC Crypto Centre, with a handful of successful businesses set to receive USD 100,000 in liquidity from TDeFi, subject to meeting the criteria. Applications close on 1st September 2023. The five-week programme is focused on enhancing expertise including refining business strategies, ensuring Web3 compliance, and marketing. The accelerator will culminate in a VC-focused fundraising event, ultimately bringing a new wave of innovative Web3 businesses to Dubai. Ahmad Hamza, Executive Director – Free Zone, DMCC, said, “Providing a platform for success is an intrinsic trait of