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

  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

    The Abu Dhabi Finance Week witnessed a lot of announcements including Abu Dhabi Global Market (ADGM) crypto hub the second crypto hub in UAE after Dubai’s Digital Assets Business Group and the crypto center in Dubai Multi Commodities Centre DMCC in Dubai.  As per the announcement, given the rapid emergence of new virtual assets such as cryptocurrencies and other related assets, ADGM is leading the way to introduce progressive frameworks and regulations around these technologies and developments. The launch of “Abu Dhabi Crypto Hub” is therefore an important representation of the strategic initiatives taken by ADGM in support of economic diversification and the growing role of Abu Dhabi as a financial hub, addressing the current and future needs of the market through innovative technologies. Crypto Abu Dhabi served as a vital platform to facilitate the assembly of the global crypto, blockchain and decentralized finance entities and elaborated on some of the most disruptive f

    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