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 B...

    UAE based BitOasis crypto broker exchange has announced that it has secured an investment from CoinDCX, India’s biggest crypt exchange. This comes after BitOasis’s license was suspended by VARA for not meeting requirements. The latest investment will give BitOasis a new life line. As per the news, the new capital injection will help to support BitOasis’s vision to amplify its regional presence and secure further licenses in the region. Commenting on the news, Ola Doudin, Co-Founder and CEO of BitOasis said: “We are delighted to be working with CoinDCX, India’s leading crypto platform. From our first conversations, it was clear we share a common vision and synergies across our markets that we look forward to building towards. The investment will allow us to sharpen our focus on perfecting our existing products and expanding across our markets. We are very excited about the opportunities the funding will unlock for us.” Sumit Gupta, Co-Founder and CEO of CoinDCX stat...

    In a recent LinkedIn post , Zul Javaid, CEO of UAE Trade Connect, the UAE’s first trade finance platform to combat fraud, announced that they had hired Wissam Massud to lead their international expansion. As per the post, Massud will define market-entry strategies as UAE Trade Connect widens its horizons to GCC, other Middle East, Africa countries. In the post, Javaid states, “We know that UTC's unique #blockchain technology addresses a real-life pain for banks and tradefinance lending everywhere, so we fully expect to be knocking on lots of countries' doors in the coming year.” Prior to this announcement, In May 2023 Zul Javaid coming back fro a recent participation at Global Trade Review conference in KSA had noted that UAE Trade   Connect was interested in offering its solutions to the Saudi Arabian banking sector. As per Javaid, “The Kingdom of Saudi Arabia is a robust banking market, and we are very keen to bring our unique blockchain and AI based engi...

    DEX ( decentralized exchange) layer for retail Web3 applications has partnered and received funding from UAE based Cypher Capital VC fund to grow Native’s financial Web3 offering in the MENA region. Native offers a game-changing solution that transforms exchanges into an integrated feature. With Native, any application can swiftly transform itself into a fully functioning exchange, seamlessly integrating top-tier liquidity providers and generating substantial trading fees. This strategic partnership will provide Native with the necessary resources to advance its product development efforts, placing a strong emphasis on flexibility, modularity, and interoperability. Bill Qian, Chairman of Cypher Capital, expressed his enthusiasm for the partnership, stating, “We are delighted to invest in Native, an innovative financial infrastructure layer. Native’s exceptional capability to empower applications to establish their own exchanges in minutes, seamlessly integrate top-...

  During Gitex Africa, held in Morocco from 31 May – 2 June 2023, IR4LAB, a Saudi-based company specialized in disruptive technologies such as Blockchain and Artificial Intelligence., announced that it would be expanding its operations into Africa. The announcement was made during Gitex Africa.  The expansion is part of IR4LAB’s commitment to the African continent and their aim to spur innovation in deep technologies and implement use cases utilizing IR4LAB’s Blockchain solution, DocCerts as well as other solutions offered. Mohamed El Kandri, CTO and Co-Founder of IR4LAB, who made the announcement at the event, stated, “We are happy to be expanding into the African market. We believe that Africa’s digital economy will grow and we want to be part of this growth in innovation and digitization, but also building local capabilities right from Morocco to Africa”. According to Mckinsey & Company, Africa’ digital economy should top $712 billion by 2050 fostered by its youth...

  While Ripple CEO Brad Garlinghouse was telling CNBC that the confusing regulation in the U.S. is pushing more crypto companies to the leave the country, Circle appointed its Vice President for Middle East and Africa, Miriam Kiwan. Kiwan on LinkedIn stated, “I’m happy to share that I’m starting a new position as Vice President, MEA at Circle!” Earlier this month, the Circle team was present in Dubai UAE at a dinner hosted by Miriam Kiwan, the partner of Raiven Capital, now she is the VP for Middle East. Jeremy Allaire, CEO of Circle Internet Financial, during an interview with Bloomberg, blamed the shrunken value of the company’s stablecoin, USD Coin, on regulatory challenges in the United States and concerns about its banking system. Garlinghouse from Ripple, in his interview talked about the leadership qualities of Europe and UAE when it comes to the regulation of digital assets. But this is not the only company that is eyeing the UAE, in a tweet  , Blockchain IO...

  UAE Trade Connect Blockchain enabled trade finance platform looks to offer its solution to Saudi banking sector. Zul Javaid, CEO of UAE Trade Connect expressed his interest in expanding the Blockchain enabled KYC Trade Connect platform to KSA. This came as UAE Trade Connect participated at the Global Trade Review conference in Riyadh KSA in May of this year. As per Javaid, “The Kingdom of Saudi Arabia is a robust banking market, and we are very keen to bring our unique blockchain and AI based engine into the country to help banks de risk their trade finance lending.” Javaid met with several leading Saudi banks at the event. Also present at the event in KSA was First Abu Dhabi Bank and Emirates Bank who are members of Blockchain enable UAE Trade Connect platform. In February 2023, UAE Trade Connect added its 11 th bank to the platform, the United Arab Bank. Prior to that Abu Dhabi Islamic Bank (ADIB) became the 10th bank to join Blockchain trade finance platform. UTC...

  According to a recent blog post published by CoinBase the second biggest global crypto currency exchange, the company revealed that is in talks with UAE’s regulator in Abu Dhabi, FSRA ( Financial Service Regulatory Authority)   part of ADGM (Abu Dhabi Global Market) to expand its regulated operations to the UAE. The expansion is part of its global scale to go broad and deep. As part of its strategy, Coinbase will establish regulated entities and local operations in high-bar regulatory jurisdictions abroad to focus on international growth. As per the blog post, “Coinbase is focused on international growth and is working with several high-bar international regulators to establish regulated entities abroad that safely facilitate trading solutions and provide products the crypto community demands. Coinbase will continue to launch foundational products that are a gateway to Web3 and crypto across the globe while launching localized infrastructure and public facing products...

  Bahamas based digital asset investment firm GEM Digital, which invests in tokens, has added $50 million to its $10 million investment in UAE Everdome Everdome a hyper-realistic metaverse that will bring brands and people together.Everdome had also received investment from BNBChain, OKx, and Unreal engine. Everdome will use the proceeds of the investment to boost infrastructure and allow heavy traffic loads in a high-fidelity environment. As per Everdome announcement the first $10 million received from GEM Digital has already been drawn down by Everdome for the development of the metaverse project. GEM’s increased investment commitment follows Everdome’s recent change of management in appointing Jeremy Lopez as CEO, and clearly demonstrates their strongest support of the new management's previous track record and commitment to the vision of our project moving forward. Jeremy developed the relationship with GEM during his previous role as COO, while also assisting in the part...

    In a recent article published by Arabian Gulf Business Insight, Nexo Co-Founder and MD Antoni Trenchev announced that the UK entity would be opening its offices in the UAE as it expands into the MENA region. The MENA region will grow to account for 30 percent of its total global operations. NEXO as per the article which currently has 5 million users across 200 jurisdictions will set up under Dubai’s VARA regulations as well as DIFC. As per comments made by Trenchev 150 people will be recruited. In the article he states, “We are seeking two lines of regulation,” Trenchev said. “One is for the crypto-related activities which will be at VARA, while DIFC will be for more traditional offerings associated with wealth management. “There appears to be a political will to create a blockchain fintech financial hub in the region but more specifically Dubai and Abu Dhabi, which is always welcoming,” he said. “In the Middle East the rules are being developed as we go, but t...

    Singaporean ChainUp Group, a global blockchain technology solutions provider, has expanded its operations into the UAE and MENA region with a sales office in Dubai. The company aims to provide blockchain solutions to businesses across the Middle East region. The new sales office in Dubai has since begun operations and seeks to form new partnerships with enterprises in the region. The team will work to curate blockchain solutions to fulfill the needs of prospective clients for them to operate more efficiently and securely. ChainUp Group has a foothold across multiple locations around the world including Hong Kong, Japan, Korea, and the United States. The company   offers a suite of blockchain solutions covering infrastructure development and ecosystem support including digital asset trading systems, NFT trading systems, wallet solutions, liquidity solutions, Web3 infrastructure, digital assets custody, and more. Ms. Tan Bin Ru, Deputy CEO & COO of ChainUp...

  WEMIX a South Korean blockchain gaming platform part of WEMADE blockchain firm, is developing and delivering various games and has launched its MENA presence with its foothold out of UAE, Abu Dhabi in specific. Wemade’s blockbuster Legend of Mir IP boasts its 500 million accumulated users in China. Wemade has over 10 subsidiaries, including Joymax (developer of Wind runner) and Flero Games(developer of Every Town) and shares in some of Korea’s most promising game developing companies, including 4:33 Creative Lab, IMC Games, XL Games, Hound 13, Raidmob, and Pulsar Creative. According to the announcement, WEMIX MENA will also open another branch in the region as well possibly KSA and other areas of UAE. The announcement states, “The UAE with its pro-blockchain policies, governments are focusing on digital innovation business. The region is proactively supporting blockchain-based business ecosystems and digital assets services. Launching of WEMIX MENA means WEMIX will actively...

  As per a recent news report Standard Chartered backed institutional cryptocurrency exchange and brokerage firm focused on institutions, is expanding into Abu Dhabi in 2023. Abu Dhabi will be Zodia Markets first presence in the MENA region as it targets growth opportunities. Zodia went live in July 2022 in the United Kingdom. U.K.-based Zodia Markets is a sister company of Zodia Custody, the digital assets safekeeping platform. Both firms share the same majority shareholder in SC Ventures, the venture arm of Standard Chartered. At the time of its launch in UK the firm, was granted Financial Conduct Authority approval, with spot trading of bitcoin (BTC) and ether (ETH).  Zodia Markets has drafted an application to operate in Abu Dhabi but plans to submit a new one in early 2023 after extended talks with regulators. Chief executive Usman Ahmad told Financial News London that Abu Dhabi is attractive because it has been “forward-looking with respect to putting the regulatory fram...

    It is not surprising that a Blockchain Fintech startup such as Abu Dhabi based Pyypl would raise $20 million in its Series B round from new and existing investors. Since its inception UAE based Pyypl with offices out of Hub71, has not only advocated financial inclusion but has built its technology to ensure it. It was name the one of the top 37 crypto startups to watch in 2022 by Techround UK. About 22 per cent of the GCC's population is unbanked, compared with 60 per cent in North Africa, according to a report by consultancy Strategy&. Blockchain enabled Pyypl provides digital payments and financial services for all smartphone users to carry out online transactions, without the need for a bank account or credit card.   Pyypl uses advanced Artificial Intelligence (AI) and Machine Learning (ML) for regulatory compliance, Anti Money Laundering (AML) and Counter Terrorism Financing (CTF). They are a full blockchain-native financial services backend-platform, ...

  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 si...

  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...