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

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

  LFi, Canadian fintech tech startup, leveraging advance computing and blockchain has expanded into the UAE with a presence in Dubai under its new LFi Labs office. According to the news releases, the Lab will serve as a central hub for new advancements and innovations.  As per their website, LFi is a decentralized platform designed to provide equal opportunities for wealth generation and financial independence through crypto.  It operates on its own blockchain, guided by a DAO-driven ecosystem.  The startup intends to fuse crypto, finance and technology to foster innovation and financial freedom. The tech startup seeks to provide a diverse range of products and services that give people greater access to tools and information for navigating the crypto and Web3 landscape. According to the news , the establishment of the Labs locally in UAE gives the brand a strong foothold in one of the most progressive, influential, and technology-oriented economic hubs in the Middle East and North

    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

  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

  Swiss based Hashgraph association has partnered with UAE du telecom to harness the potential of the Hedera Blockchain to offer secure traceable and scalable solutions for enterprises. du and the The Hashgraph Association will provide innovative blockchain solutions to small and medium-sized enterprises (SMEs), governmental institutions, and municipalities by leveraging the efficiency of Hashgraph on a decentralised, public network, the Hedera Distributed Ledger Technology ensures a trusted and reliable foundation for the newly developed solutions. Target sectorswill include manufacturing, healthcare, education, smart cities, and agriculture, catering to a wide range of industries seeking secure and efficient applications. Notably, Hedera stands out as the greenest proof-of-stake network according to UCL research, aligning perfectly with du's commitment to providing sustainable solutions. Prior to this Kuwait based Zain telecom group had joined Hedera as one of their governi

  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 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

  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. Formerly known as Polkastarter Gaming, GAM3S.GG, offers curated Web3 gaming content, with 200 listed games across 15 chains and over 60,000 registered gamers. Omar Ghanem, Co-Founder and Chief Executive officer of Gam3S.GG states, “The gaming industry is at a crossroads while Web3 offers new exciting possibilities, the lack of quality content and a singular destination for all your Web3 gaming needs has left many gamers lost.” GAM3S.GG said it is building the hub to enable newcomers and professional gamers to explore new frontiers and experiences within one single Web3 gaming superapp. The startup is also a member of AD Gaming, the entity responsible for develop

  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

  Arcapita Group Holdings, a global alternative investment firm, has invested in GCC based DataFlow Group, a primary Source Verification (PSV) solutions, and background screening and immigration compliance services. The acquisition represents yet another milestone in Arcapita’s growth strategy, having completed five direct investments and eight add-on acquisitions in the business services space, in the US and GCC, over the past five years. DataFlow Verification Services Limited is the GCC’s leading provider of regulation-mandated pre-employment primary source verification (PSV) services, with over 850 employees across nine countries, including Saudi Arabia and the UAE, and a global network of more than 160,000 issuing authorities across 190 countries. The company’s workflow and system integrations with issuing authorities and GCC regulators has made it the service provider-of-choice in many markets resulting in long-standing client relationships. While DataFlow has historically f

  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

  In a recent LinkedIn post , the UAE Ministry of Finance praised Fintechs and technologies such as AI Big Data and Blockchain and their role in redefining payments stating in a video that the launch of digital dirham soon. The digital dirham project is the CBDC project being developed within the Central Bank of the UAE. As per the post, “Fintech, the cutting-edge integration of digital technology into financial services is reshaping the future of finance. From AI to Big Data and blockchain, fintech innovations optimise investments and redefine payments.” In the video the UAE Ministry of Finance states, “ The UAE has started its digital currency strategy and the digital dirham is on the way!” In April 2023, it was announced that R3 was chosen by UAE Central Bank as its technology partner to design and build a CBDC for the first phase of the central bank’s CBDC project because it is a permissioned based DLT (Distributed Ledger Technology) that decentralize assets privately and wo